Posted on 06/14/2012 8:03:14 AM PDT by izzatzo
CNBC HOST: Donald, you see the OPEC news this morning? Venezuela wants OPEC to stop pumping more, overproducing, they are saying, that, because Saudi Arabia is pumping above the limits it's supposed to be doing to help us out a little bit and Venezuela is complaining and right now you're looking at oil prices at about back around $82.
DONALD TRUMP: That's still very high, Becky, they should be at $30 if you look at free market. I think Saudi Arabia is doing Obama a big favor. Look, you have to do be a favor, I have to get elected, you can't do it like you've been doing the last three years driving it up to $150 because that's where it's going and I think Saudi Arabia is doing Obama a big fat favor. I think he asked for the favor and prices are coming down, but also the economy's going bad so maybe it won't help that much. but as soon as -- assuming if Obama got elected, you're going to see something with oil like you've never seen before, it will go through the roof. The favor will be repaid many times over
(Excerpt) Read more at breitbart.com ...
How high could oil prices go with nobody having any money to buy gas with?
> I’m with the Donald on this.
Second that.
Donald is a moron.
Saudis no longer control the price of oil. After it was commoditized OPEC lost any control over oil prices. It’s now supply, demand and speculation that control the price.
3.60 a gallon is considered LOW? When W was around anything over three bucks was the end of the world. Times change, I guess.
Now, really. How can Mr. Trump know this? In addition to which, the Saudis are pumping oil like crazy anyway. They’re beating the crap out of all those old wells they have.
I think..I think..I think..the Donald is a duck.
The question is, what are they expecting in return?
bump
Low? Where??
Wasn’t that in the wikileaks deal?
The Saudis admitted that they have no more capacity than they are currently using?
Our communists master King Obama will do anything to get reelected so he can finish screwing America. He doesn’t care how he hurts the masses of people as long as he gets his goodies. And at least half of Americans are blind and pure ignorant to support this communists con man. Trump is right on. Then if reelected he will force the world suppliers to run oil up to 200 a barrel and pump prices at 10 a gallon. Have fun America.
The dollar price of motor fuel is falling....
But it is STILL way high!
Sometimes I think it’s a shame, When I get feelin’ better when I’m feelin’ no pain (nod to Gordon Lightfoot)
Donald has the right idea, but gives too much credit to zero and the Saudi’s for overt implementation of setting price.
The implicit agreement for the Saudi’s: zero, you keep bowing, and we’ll keep pumping. They like having this joker green environmentalist as US president, because they know that zero is good for the long term price of oil.
The Saudis are pumping like mad. They are near or at 100% capacity.
The thwarting of the Keystone pipeline was a payback to Warren Buffet.
When oil was $90+ local gas was $3.59, now at $81 gas is back up to $3.89.
Consider it an investment. Obama blocks domestic production and Canadian oil sands to keep the supply depressed and the value of Saudi oil goes up. Obama knows a little about supply and demand, he just rejects individuals participating in the market.
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