President T hails the oil price fall.
In a series of tweets President T ( Donald Trump just in case you’re wondering who President T is) has hailed himself for crashing the oil price.
“So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)!
“This morning I – President T – got dressed & ready ALL BY MYSELF! I had an IMPORTENT decision to make! Should I take a RED pill or a GREEN pill? We swallowed 17 green pills! Can’t wait to see how that effects ME! Thank you President T! #SundayThoughts #SundayMorning #SundayFunday”
“You just can’t win with the Fake News Media. A big story today is that because I have pushed so hard and gotten Gasoline Prices so low, more people are driving and I have caused traffic jams throughout our Great Nation. Sorry everyone!”
You may recall that Donald trump thanked Saudi Government for falling oil prices and urged: “Let’s go lower!”
“Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!”
Last week, Trump reaffirmed the U.S.-Saudi relationship despite the murder of Saudi journalist Jamal Khashoggi. The president declined to criticize Saudi crown prince Mohammed bin Salman for Khashoggi’s death, despite intelligence reports that the crown prince likely ordered the assassination inside the Saudi consulate in Istanbul.
Trump has indicated that issuing sanctions or punishing Saudi Arabia over Khashoggi would result in a spike in oil prices.
“If you want to see oil prices go to $150 a barrel … all you have to do is break up our relationship with Saudi Arabia,” he said last week.
However, “In the second quarter of 2018, the U.S. imported roughly 10.4 million barrels of petroleum per day, with the largest amounts coming from Canada (40%) and Saudi Arabia (9%).”
Saudi Arabia is the third-highest global producer of oil and they control the price of the oil.