Author: Unknown
Published on: 23/01/2025 | 00:00:00
AI Summary:
Trump says he will increase oil output and unleash the United States energy industry. He declares a national energy emergency. Trump also pledges to roll back support for clean energy.
Original: 99 words
Summary: 33 words
Percent reduction: 66.67%
He wants a lot of stuff, but it rarely turns out how he expects.
In 2016 it was coal. This time he wants oil.
How did the coal production go since 2016? Did he save the coal businesses? That’s a rhetorical question.
He “drill baby drill” is a talking point which he does to please the donors from the industry. They might even be allowed to drill more, but the oil can’t be refined in USA and it can’t be sold in USA. You know what happens when you have a surplus of a product. The price will drop. Don’t confuse this with the gasoline price because US oil can’t be refined to gasoline. No, it’s the crude oil price that’ll drop.
Remember 2020 when the oil price was negative following Trumps last term? That’ll happen again if they go ahead and drill more. The oil industry probably won’t do it though, just like the coal mines didn’t suddenly dig more coal last time.
So he and his buddies get rich. Duh.
Money. On a more positive note it will crash the value of oil on the global market which will fuck Russia’s economy even worse and allow the increase of sanctions on Russia. It also incentivises sanctioning Russia to raise oil prices to make more money. So not all bad but defiantly not altruistic.
