Americans can kiss the low gas prices they’ve been enjoying goodbye, thanks to Donald Trump. Trump announced that he has helped to persuade Russia, Saudi Arabia, and other OPEC nations to REDUCE the amount of oil they are producing in order to drive prices higher. This effectively kills a decades-old Republican talking point that we need to produce more oil in order to lower prices for consumers. The only thing they care about are oil industry profits, as Ring of Fire’s Farron Cousins explains.
Link – https://www.rawstory.com/2020/04/trump-says-opec-planning-to-cut-production-20-million-barrels-per-day/
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30 Comments
And yet the middle class and poor whites support him like a god not realizing that he doesn't care about anyone who doesn't have the portfolio to be a member of his exclusive clubs
Amazing how corporations are still trying to profit from this pandemic. Thanks Trump!
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If it's illegal, you can bet Trump has his hand in it. It doesn't surprise me at all at this point.
Yes, during a crisis too, when people are out of work, with many without healthcare in the USA, and with rent to pay, put up the price of oil? What an asshole Trump is.
trump bullshit!!!
It shows how BIG of an idiot he is!! He can't jumpstart testing for Corona virus, but he can raise oil prices???
I don't know about the states, but here in Spain, the demand for gasoline went down because of the pandemic. The gasoline companies RAISED the price of gas to compensate!!!
Can anyone say "Monopoly"?
Because higher gas prices are in the best economic self-interest of whom, exactly?
Trump is unbelievable. He is getting worse and worse. He is absolutely out of control and the republicans in Congress have encouraged it.
You lost me at the 1 minute mark. I'm pretty liberal but to say that these low prices do not threaten the oil industry is incredibly misleading. Not only are half of the shale producers in the Midwest at risk of collapsing but even big companies like Chesapeake are very likely to go under if this price war persists. By the way, the entire reason for this Russian / Saudi race to the bottom is to put weaker US shale companies out of business to ultimately decrease overall output while gaining market share. You either are ignorant of this or a liar. Maybe a little both
Sir, your a straight up propaganda machine. I remember back in former Soviet Union , which my family and I immigrated from, had the same folks like yourself spewing propaganda against America in the late '70s. I wonder who's funding you, and if no one is someone should because you do good work!
Oh my god…Trump has got to go. He is absolutely destroying this country.
I believe this is directly tied to the "drug charges" against the Venezuelan government. They also produce large amounts of oil that would screw up the plan, so take them out and replace
So basically Trump asked Saudi Arabia and Russia to do what they would normally do, so everyone can raise their prices, including U.S. oil companies, and then make more millions, if not billions, of dollars more in profits? Sounds like Trump economics. Now when do they file bankruptcy so they can write off the loss in profits so far and keep making more profits from now on? After all, isn't that also Trump's lesson on bankruptcies, "rinse and repeat?"
Nothing new. Trump and the Republicans work for the rich
Who the hell shocked? The American people weak as hell!!
trump did it for one reason…money. Money for him and for all the big oil republican party donators.
Trump is just a greedy money grubb'n animal. Kill the middle and poor people. Republicans are the worst-case ever in America.
There was a website called "Too Stupid To Be President" which became late-Clinton but throughout the Bush years, and one of the flash cartoons was about the 1999 election. Al Gore was "Super-Gore", avenging the defeat of "Captain America" (John McCain) at the hands of "GOPEC", which attempted to use "Clintonite" against him. The Dick Cheney was the criminal mastermind, using George W. Bush as his (Manchurian) candidate.
Greed is the depression I'm done doing what rich people want me too do I feel likenthe tax I am forced to give the government is not going to what I want I think we need to do a reform of hownwe do taxes . Like say 50% of my taxes go to the government and then I get the choice of where the other 50% goes . When we do taxes imwould like my money to go to edu, medical ECTit's unjust to take my money and spend less than 15% on our country we the people !!!
With nobody going anywhere due to COVID-19, what’s the point of cheap gas? It’s not like we have jobs to drive too at this point. Besides so many of us have lost our paychecks as well. What has Trump the Chump done? He had a good economy but that is all wiped away and he didn’t do anything for the growth of the economy. Hopefully, November Mickey Mouse will win the WH because Goofy isn’t doing that great of a job!!!
Bet he’ll deny it as soon as people protest.
I knew when trump took office gas prices will be about $10.00 a gallon in his four year term. That is the only prediction about that ass hole that hasn't came to pass.
Donald J.Trump is full of Greed and is Always Thinking Of How He Can Profit From Whatever Is Going On!!!!!!!The Worst Person To Be In Charge!!!!!
The problem is that the world is quickly running out of storage space for the oil that is being pumped, but not being consumed. Demand has fallen through the floor due to this pandemic, and without cuts to extraction we could see prices hit $0, or even negative territory. This would not be good for oil companies, or for the world in general. Better to leave the stuff in the ground for now!
Having major oil countries cut back on extraction, in order to match demand, actually makes sense here.
Duh, he and the Republican party want to Bankrupt the US. And screw over the American people. Republican Party is an enemy of the US. When are you people going to wake up, it been 40 years.
Ravencroft, its the bankers and thr rich. And the Military Industrial Complex. Warning was first uttered in 1953. I was around then and heard Eisenhower utter the warning. War forever.
Putin, the Saudis, Kim Jong Un. They are all people trump either likes or loves. (You know who he loves.) But all of them are the kind of people he aspires to be. Despotic Oppressive Evil Dictators.
I actually wrote that as I was watching another video. But hey it's still pertinent here. Pertinent anywhere one is discussing trump. If you think about it, eugenics is the first baby steps to mass executions. If we aren't VERY careful, that is exactly where we will be all too soon. Any time that would occur would be far too soon. Open your eyes USA.
It's alright. Let them raise prices back up. Then those of us who are having to work three times as hard to make the same, or less, amount of money, and still going to work right now, won't be able to put gas in our cars anymore and we'll lose even more jobs. I mean that's clearly what they want.. Anyone who thinks otherwise is a fool.