Trump: Obama Cut Deal with Saudis to Keep Oil Prices Low Until Election

Breitbart ^ | 06/13/2012 | Breitbart

[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

[trubolotta]

With the cost of EVERYTHING gong up, I'm not surprised that a direct correlation between crude and refined breaks down. Refineries need electricity, pipe, chemicals, fuel, lawyers, accountants, regulatory compliance officers - it's all in their cost of doing business.

[PA Engineer]

The thwarting of the Keystone pipeline was a payback to Warren Buffet.

I think it could be both, with Obama finding shelter and support with Buffet.

[PA Engineer]

Do you get the feeling that this has all been well planned, years in advance?

I do think it was well planned and believe this was a coup.

[Darnright]

>Do you get the feeling that this has all been well planned, years in advance? <

There is some fascinating information in the Breitbart comment section if you’re willing to wade through the “oh yeah, and so’s yer momma!” troll scat.

[himno hero]

America’s Dhimintude, jizya and subserviantude.

Subserviant behavior, thats all.

And that is consistent with Obama’s desires, so he too can rule like a monarch.

[tnlibertarian]

So, Obama would say that gas prices are "going all the way down?"

He's doing his part to keep it low at the pump.

[Errant]

Thanks, I sometimes like the read the comments section, depending upon the site.

[11th Commandment]

Good businessmen can be wrong when they venture out of their expertise and economics is one of those areas for Trump.

Given the value of the dollar, we will not see $30 oil for sometime. Even with good corn crops, prices remained high to historical norms.

Second the Saudi's are pumping oil because they even realize that Iran and Venezuela want production levels that hurt the US and the West and not for sound business reasons. Saudi is smart enough to realize healthy western economies is good for business.

Also, they want oil prices at level which will slow the US development of oil that is now coming online with new drilling techniques. They can't stop it, but keeping oil at reasonable levels will slow prospecting.

[Errant]

"Due To The Extreme Volatility Some Market Analysts Foresee..."

[kidd]

The question is, what are they expecting in return?

An illegal ban on exploration in the Gulf of Mexico?

[Errant]

An illegal ban on exploration in the Gulf of Mexico?

Another part of their overall plan to limit US production.

[WKUHilltopper]

$3.80 a gallon is the “new cheap”? BS!

[folkquest]

Gordon Lightfoot ping!

[jch10]

$3.17 here in NW Florida.

[Balding_Eagle]

That's still very high, Becky, they should be at $30 if you look at free market.

That statement bolsters Bachmens argument that if she were elected she would help bring gas prices down under $2.

A lot of Freepers laughed at her, but I think she was right, and $2 gas still could happen.

[izzatzo]

No doubt about it that she was correct, I agreed with her then and agree with her now. I think just the action of our re-starting our oil industry would knock down the price considerably.