Trump Blast Oil Prices and OPEC
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“Oil (costs) is what is killing the world’s economy,” says Donald Trump.
“Frankly, I hear there are tankers all over the world that are loaded up to the gills with oil,” he told CNBC. “They have so much oil they don’t know what to do with it. It’s ridiculous what’s going on with OPEC and all of that.”
Trump blames major oil producing countries for the current recession and accuses large oil companies of “doing a major number” on everyone. He predicts that oil prices should drop a lot more from its $121 a barrel level after spiking near $150 a barrel in June and it should be priced around $50-60 a barrel.
“There’s a vast oversupply in the world. It’s all over the place,” Trump says.
Observers say if the U. S. would rattle its own domestic oil supply saber it would shock the market and costs would plummet. Oil experts say the U. S. could be free of Middle East imports in less than 3 years. But, progress is slowed by the November political race with Obama siding against more domestic supply to pander to radical environmentalists while McCain supports increased domestic production.
Pingback by Arab oil and its destructive power on US economy « Arab racism Islamo fascism on 25 February 2009:
[...] would plummet. Oil experts say the U. S. could be free of Middle East imports in less than 3 years. [3], he blasted major oil producing countries for the current recession and accuses large oil companies [...]