Trump breaks OPEC. Imagine that.
Oil Price needs to be excerpted?
Fracking OPEC sounds like fun.
Saudi will do exactly what we want them to do so long as it is done outside of the public view, saving face is very important in the Middle East.
Saidi is scared Sh—less of Iran and with good cause. If one looks at the population of Iran and Saudi and the ability to put great numbers of men in combat, Iran wins. If Iran becomes nuclear it is game over unless Saudi is also nuclear or defended by our military and its nuclear ability.
Without our military support and access to our military weapons they would cease to exist and that is not good for Saudi nor the USA.
As an aside I must comment that oil prices today are just right. At the present price shale oil fracking is very commercial and our production rates increase month by month.
The Saudis tried to kill our shale oil fields some years ago by producing huge amounts of oil and driving the price down. This did bankrupt many but that oil was still in the ground.
We came back leaner and meaner and now produce record amounts of oil at much lower production costs. Those leases that went bankrupt were bought at a bargain price and are now being drilled and producing. Capitalism works!
Saudi has state capitalism and thus failed in their efforts to kill shale oil in the USA. A state directed effort can never compete with free capitalism.
This is Baloney, its American Companies screwing Americans.
I dont think this has anything to do with OPEC or Trump per se, it has to do with their hatred of Iran and U.S. military strength. Crippling Iran could save them a war they don’t want. That said Trump certainly deserves credit for pushing the right buttons at the right time. MAGA!
save for later
“...concluding that Trump was confused when the Saudis told him...”
Prez Trump does not get confused, he is usually 3 steps ahead.
Climate Change Mythology was the lynchpin that held together an incredible tapestry of lies.
There is another factor......
How much of the supply by Iran is diminishing?
To effect the squeez on Iran Saudi Arabia and other GCC nations can easily pick up the slack to insure prices do not rise and actually decline a little. While Saudi Arabia is mentioned in the struggle all the Gulf nations cooperate in a common effort.