About Oil Prices

This morning, Trump discovered that oil prices are the highest since early 2016, so he tweeted about it, calling our OPEC.

So, this is happening, for a couple of reasons:

1. US oil companies are selling a lot of oil to other countries.

2. OPEC, lead by Saudi Arabia, got new production/price levels approved.

I wonder why he failed to discuss this with the Saudi Crown Prince, during his visit a couple of weeks ago, and has failed to include US oil companies in his twitter rebuke.

Not that I would like oil prices to drop, but...

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Picklebobble2 · 56-60, M

Well it's a double-edged sword isn't it.
Good for the U.S. economy in one sense because the country makes money.
But bad if that price rise translates to the pumps and folk at home have to pay more for it.

Side-stepping the issue that the U.S. pays a lot less at the pump than folk in Europe.

Northwest · M

@Picklebobble2 I would amend it to:

1. Oil companies make more money. They received tax cuts, so the country will make less, and the tax cut has nothing to do with hiring in this field.

2. At the pump, prices have gone up about 35%

Yes, we're still a lot cheaper than Europe, which is why we drive bigger cars, and cause more pollution.

Northwest · M

@Picklebobble2 PS: my post is not really about prices, but the fact that the President is tweeting about how unfair it is, when he should have been on top of it, as it all unfolded under his watch, and through players he supposedly controls, proving via his tweet, that he's clueless.

Picklebobble2 · 56-60, M

@Northwest One of those subjects probably NOT good to tweet about all things considered

Northwest · M

@Picklebobble2 [quote]Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted![/quote]

How do you take a President, who demonstrates this kind of incompetency, seriously?

I posted about this a few weeks ago, on SW (as in, how Saudi is going to push for raising oil prices)