Author Topic: Trump eyes intervention in Saudi-Russia oil dispute  (Read 572 times)

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Offline corbe

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Trump eyes intervention in Saudi-Russia oil dispute
« on: March 20, 2020, 03:53:48 pm »
Trump eyes intervention in Saudi-Russia oil dispute

Ben Geman


President Trump said Thursday he's eyeing intervention in the oil price war between Russia and Saudi Arabia, a dispute that combined with COVID-19's economic toll is pushing prices sharply downward and creating financial jeopardy for U.S. producers.
Quote
At the appropriate time, I will get involved, yes.
— President Trump
Why it matters: The pledge came in Trump's first extensive comments on the upended oil market, but he also suggested that he has mixed feelings about the price collapse.

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Offline IsailedawayfromFR

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Re: Trump eyes intervention in Saudi-Russia oil dispute
« Reply #1 on: March 20, 2020, 03:56:59 pm »
I do hope it does not mean an arbitrary price fixing that guarantees a certain crude price be given to oil companies to keep them afloat.

Carter tried price fixing back in the 70s, albeit a cap and not a floor,  and it was one of the greatest economic disasters ever in this country.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington