Election year. Trump doesn't want to piss off farmers in Iowa, Kansas, Missouri etc. and others who would be affected, and Biden would promise to put ethanol back in the mix. In the long term, getting rid of ethanol would make sense.
24 or 25 dollar oil looks to me to be the bottom. But that won’t stay.
Oil is suffering the supply and demand rout. The Saudis and Russia plus Iran and other oil producers feed their nation states with oil revenue. There’s considerable pressure to get back to 50 oil. The American frackers are the target. Trump is monitoring them, and now has a green light to shuffle cash to them, so they don’t disappear. Trump took great delight in telling the world of our independence because of frackers
Issuing 50, 75 and 100 year bonds for the entire 22 T national debt will slice our interest expense alot, so the cash is there to keep frackers fracking.
I feel a great comfort hearing it said we are not dependent on anyone for our energy needs