The Donald Trump Presidency Message Board

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Politics : The Donald Trump Presidency

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To: John Carragher who wrote (35299)	3/16/2020 4:18:55 PM
From: RetiredNow	Read Replies (1) of 73703

Sure, it will benefit the consumer, but it will take out a lot of our oil shale companies over time. Then our oil majors will buy up the pieces, which is not a bad thing. However, the immediate impact was what triggered the stock market selloff and panic. It was the one, two punch of the coronavirus and the oil price war. If it had been me, I would have called MBS out on that and made sure he understand that I was not happy and that MBS' actions were going to have consequences. Trump did decide to fill up the SPDR and that is a positive step to put a floor under oil, but a more positive step would be to reign MBS back in and get him to support oil prices with the heft of the Saudi production cuts. The bottom line is that Russia and Saudi are colluding to take market share from the US and to put our shale oil out of commission. That's what they are aiming for. I would not be surprised if what we just saw was MBS and Putin engaging in very public theater to project the idea of an oil price war, when in reality the two of them were colluding to take market share from the US. That's why Trump needs to engage and remind MBS where his bread is buttered.

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