The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: corbe on March 20, 2020, 03:53:48 pm
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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.
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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https://www.axios.com/trump-intervention-saudi-russia-oil-dispute-3c8d58f2-c6db-46da-9b6f-5b8e794daa3b.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top (https://www.axios.com/trump-intervention-saudi-russia-oil-dispute-3c8d58f2-c6db-46da-9b6f-5b8e794daa3b.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top)
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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.