"Tariffs all the way": Trump says European Union must buy U.S. oil and gas in trade ultimatum

CNBC (Business News) ^ | 20 December 2024 | Jenni Reid & Silvia Amaro

[zeestephen]

"I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way," Trump posted on his Truth Social platform shortly after 1:08 a.m. ET.

[nopardons]

BTTT

[Paladin2]

Transparent resolution.

Drill, Baby, Drill...

[Rockingham]

This is genius. Trump will have US oil and gas displace Russia from the European market and will depress Iran’s oil and gas earnings due to lower prices. The result will be a financial squeeze on both Russia and Iran — financed by Europe, with the US oil and gas industry benefitting directly.

[pepsionice]

The one unknown in this discussion....for shipment of natural gas...you need LNG tankers, and there’s only x-number. Adding to this...several of the EU members have their own source for natural gas signed up (Germany signed a 15-year deal already with Qatar).

There’s also the matter of this EU-South America trade deal recently signed....where Argentina probably is going to score big on both oil/natural gas sales.

[Rockingham]

All of those issues mean that Europe may have to ask Trump for extensions and exclusions and put offers to make good on the table. For Europe, who would you rather bicker with, Qatar and Argentina or Trump?

In any event, Russian oil and gas is losing their European market and Iran will also take a hard financial hit. And free market, pro-US Milei in Argentina may well end up undermining the Leftist Lula in Brazil by selling oil and gas more cheaply. Similarly, Qatar might enjoy dropping fuel prices and taking away Iran's export markets.

[Omnivore-Dan]

What’s fair is fair. We’ve been Europe’s crutch for too long. Besides, goods from just about any country in Europe are already too expensive and not really worth the extra dollars.

[neverevergiveup]

Europe looks down on the US, despite the fact we had a huge role in saving them more than once.

[Omnivore-Dan]

We’ve been saving them every day, if you think about it. All the aid, the military presence, unfair trading, etc.

[EQAndyBuzz]

“This is genius. Trump will have US oil and gas displace Russia from the European market and will depress Iran’s oil and gas earnings due to lower prices.”

This is how the war in Ukraine and the Middle East will end. “Want to fight? we will cut off your money.”

[canuck_conservative]

Good, this will keep Russia’s oil & gas shut out of Europe

Plus, once Pres. Trump opens the taps, the price of oil will fall, cutting Russia’s economy off a the kneecaps (Russia gets 60% of its revenues from oil & gas sales)

And there’s not a damn thing Putin can do about it!! lol

[Rockingham]

I believe that is correct — and a natural strategy for an experienced real estate developer from New York.

[Libloather]

I saw Trump on a rally stage announcing cabinet picks. He then blurted out, “I got the gas.” Leave him alone.

[wildcard_redneck]

So instead of cheaper natural gas from Russia brought in by a much more efficient pipeline will be replaced by a hugely expensive liquidfied natural gas shipping scheme. I don’t think it will work well for the sponging European people.

[canuck_conservative]

I love it when you Russian cheerleaders are angry and frustrated

Get used to it buddy, Russia will in for a world of hurt once Trump takes power

And then there will be the two Vance administrations, continuing the same policies ...

“Russia going down”, lol

[babble-on]

LOL

[Alberta's Child]

So the U.S. energy sector uses its political influence to drive up its revenues by having the U.S. government shut down its competition?

How is this any different than technology companies pushing “climate hysteria” as government policy to force Americans to not only buy electric vehicles for themselves, but subsidize others to help THEM buy EVs?

[canuck_conservative]

Nope, simple supply-and-demand economics

And if monsters like Russia and Iran get their economies crushed in the process, then that’s just an added benefit

Funny, nobody complained when Russia was flooding Europe with low-priced oil, thereby “eliminating the competition”

Now Russia is going to get a taste of its own medicine, what’s not to like??

[Alberta's Child]

Nope, simple supply-and-demand economics.

Exactly. Drive up prices by artificially restricting supply. It’s no different than a waste management company owned by the mafia in New York City drive up prices by reducing the supply of garbage trucks … by setting their competitors’ trucks on fire. Here in real America we call that a criminal enterprise.

Funny, nobody complained when Russia was flooding Europe with low-priced oil, thereby “eliminating the competition”

What exactly is the problem with someone selling something to you at a low price?

[aMorePerfectUnion]