President Donald Trump says OPEC is “doing little to help” rising gas prices and claims “if anything, they are driving prices higher.”
Trump tweeted Wednesday: “The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!”
Last month, members of the Organization of the Petroleum Exporting Countries cartel agreed to pump 1 million barrels more crude oil daily, a move that should help contain the recent rise in global energy prices. However, summer months in the U.S. usually lead to increased demand for oil, boosting the price of gasoline in a midterm election year.
(AP)
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2 Responses
Well he said Obama was responsible at the time gas prices went up during his administration, so stop blaming everyone else you weak incompetent baby.
Mr. Trump seems to be living in the past. The United States has achieved energy independence. The United States is now one of leading producers of petroleum, and exports to other countries. This has happened in spite of (not because of) the Federal government – much to the annoyance of the Arabs, the Russians and the Greens.
The major factors moving oil prices in the United States involve domestic production. If the goal is to lower prices, one needs to construct more pipelines and to prohibit states from restricting production on “environmental” grounds. Promoting alternatives to oil, such as gas, nuclear and renewables, will also help force down the price of petroleum products.