Trump, Clearly Making It Up As He Goes Along, Jawbones Oil To Best Day In History

Trump, Clearly Making It Up As He Goes Along, Jawbones Oil To Best Day In History

"At the appropriate time I’ll get involved", Donald Trump said Thursday, of the oil price war between the Saudis and the Russians, a spat which served as the final blow to fragile sentiment, tipping markets into chaos two Mondays ago. “It’s very devastating to Russia, because the whole economy is based on that, and they have the lowest prices in decades", Trump mused. “I would say it’s very bad for Saudi Arabia, but they're in a fight". It's not clear Trump's assessment is wholly acc
Subscribe or log in to read the rest of this content.

8 thoughts on “Trump, Clearly Making It Up As He Goes Along, Jawbones Oil To Best Day In History

  1. I mean sure fill up the reserves but if you want to stabilize prices for US producers why not exclusively buy US shale oil at say $45. What precisely is the point in buying a few billion worth from the Saudi’s or Russian’s? As for getting “involved” I’m pretty sure he’s got about as much control over his two daddies as he does over the coronavirus.

  2. I looked as far back as I could at oil futures, back to April of 1983, on Thinkorswim. OIl has never been lower than the $30-33 handle during this time frame. That period covers a lot of downturns and the drop is mind boggling. Let the zombies die, oil or otherwise. It’s been the continuous pumping of liquidity that has sparked the current crisis.

      1. And inflation biases perspective. I remember reading, during that period in the late nineties, that adjusted for inflation, that was the lowest price for gasoline we had ever! paid in Canada.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints