President Trump recently took credit for the plunge in oil prices since early October. As I noted in a recent article, it’s true that the President’s actions have contributed to the drop in oil prices, but at a cost that has been largely ignored. This week the President decided to share the credit for lower oil prices on Twitter: (tweet omitted) President Trump thanks Saudi Arabia for low oil prices. How President Trump Affected Oil Prices. Let’s review. The trade war with China resulted in China halting imports of U.S. oil. Prior to that, U.S. oil producers had been shipping...
