Somebody needs to tell Trump that 40% of U.S. oil imports come from Canada and 11% from Saudi Arabia. Oh yeah, and that he has no idea what he’s talking about.
Donald Trump has just tweeted a thank you to Saudi Arabia for current low oil prices, which he likens to 'a big Tax Cut for America and the World!' In fact, Canada is the US's biggest supplier of imported oil at 40%, compared to only 11% from Saudi Arabia.
— CBC News Alerts (@CBCAlerts) November 21, 2018
So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)!
— Donald J. Trump (@realDonaldTrump) November 25, 2018
Another sugar high from Mar-a-Lago chocolate cake, Trump’s spent too much time being schmoozed by his fellow club members. The reality comes from the CBC among others who show that in reality unleaded gas prices have been rising since the beginning of the Trump regime.
Dear @realDonaldTrump: FYI below.
Also, Canadians didn't attack America on 9/11, nor did they murder a US resident in their embassy, cut him up into pieces, and then lied to you and the American people about the murder.
Why do you grovel before Saudi Arabia? https://t.co/CQWLLtZfqL
— Ted Lieu (@tedlieu) November 21, 2018
Thread by @RyanHillMI: “@realDonaldTrump Don’t you mean thank you Saudi Arabia? Or is there some other murderous regime you’d like to give credit to this time… @r […]”
You do know that Canada (that country above us that you keep attacking) supplies 40% of US oil?
I guess their thank you note got lost in the mail.
Some important context:
1. WTI Crude is still higher now than it was during the first year of his administration.
WTI Crude was ~$47.51 a barrel in June 2017. It’s now $50.42.
50.42 > 47.51
A decrease in demand for oil in combination with the plummeting of the stock market could be a sign of slowed global economic growth.
Since the United States produces so much of its own oil now, lower prices are a double-edged sword as they put a ⬇️ on domestic producers profits
You should have one of your aides read this to you!
“are you listening Fed”
This is the opposite of what they should do.
Overheating the economy by maintaining artificially low-interest rates is a TERRIBLE IDEA that can exacerbate inflation!
This why most COMPETENT administrations go out of their way NOT to politicize the Fed!
The reality will be worse when the next economic crisis hits:
Thread by @bj2048: “@realDonaldTrump The price of unleaded gasoline has been rising since the start of the Trump Administration. @realDonaldTrump Looks like it […]”
The price of unleaded gasoline has been rising since the start of the Trump Administration.
Looks like it is the same for the price of oil.
Damn, President T hit a triple. Inflation has been rising for most of his administration as well.