No. of Recommendations: 8
Trump expects the oil companies to invest and then get paid back. Are we gonna guarantee that payback? How will that work?
Remember the run-up to the invasion of Iraq? Talking heads on bubblevision were saying "the US oil companies will go in there, develop the resources, flood the market with oil, and the price will fall to $10./barrel" Remember what actually happened? Constant media chatter about "peak oil", WTI at $100/bbl and $4 gas, with soaring oil company profits.
I'm hearing the same nonsense right now. This evening's "news". One pundit declaring "oil will drop $2 barrel Monday". Tom Costello said words to the effect "it may not happen right away, but, in a few years, we will see lower gas prices".
Exact same talking points we heard 20 years ago. BAH!
All God Trump has to do is stop oil production in Venezuela to tighten supplies, and prices go up. Then, "in support of demonstrators in Iran" bomb the daylights out of Kharg Island, and another 2MBPD vanish from the global market. US big oil doesn't need to risk a nickel. Trump disrupting global supply fattens their wallets, without them coming in off the golf course for a moment. Back in the day, this was "Rant #1".
Steve
