Is Biden Right About Oil Companies?

[finnbow]

Originally Posted by whell

I just saw this post. Gawd you're clueless.

That agreement was against the backdrop of the Saudi's starting an oil price war with Russia, and the US domestic oil industry was in the crossfire. In short, it was an effort to support US domestic oil production, not throttle it. It also got the Saudi's and Russians back to the negotiating table to end the price war.

So, Trump's intervention in the energy market is a good thing even if the results are bad (increasing oil prices) while Biden's (e.g., opening up the Strategic Petroleum Reserve) are a bad thing even if the results are good (decreasing oil prices).