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Here is what happened
Posted on: October 4, 2022 at 11:37:50 CT
meatiger MU
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The government shutdowns took oil demand to the lowest in decades
Trump went to the Saudis to convince them to cut production to help increase prices to help save the US oil company which lost billions and were also cutting production
The US government sent money everywhere at the same time lifting restrictions and oil demand spiked back almost to normal
Prices went up due to the demand and all the spending that government handed out to the people.
As expected, production increases lagged behind the demand increase, so higher prices were the result.
Biden did nothing to alleviate the pain, as he should not do anything directly to further block the pain, but get out of the way and let the market fix itself.
Trump went to the Saudis to convince them to cut production to help increase prices to help save the US oil company which lost billions and were also cutting production
The US government sent money everywhere at the same time lifting restrictions and oil demand spiked back almost to normal
Prices went up due to the demand and all the spending that government handed out to the people.
As expected, production increases lagged behind the demand increase, so higher prices were the result.
Biden did nothing to alleviate the pain, as he should not do anything directly to further block the pain, but get out of the way and let the market fix itself.
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Here is what happened - meatiger MU - 10/4 11:37:50