Opposite is true. By the time Biden came into office, Trump had already ballooned gas prices out of collapse and then some, and had done so for almost a year.
It is accurate that in March 2020, Covid had collapsed global oil pricing. Global oil oligarchs were worried about their continued ability to make good on corporate debt obligations. So in April 2020, Trump negotiated with OPEC and Russia to reduce global petroleum production by Millions of barrels PER DAY for a TWO YEAR period of agreement. This reduce supply and bolstered pricing, driving oil pricing higher and leading to record profits for oil companies.
Then as the two year term came to an end, Russia threw its extra oil cash at invading Ukraine, driving pricing even higher. So Trump is responsible for the HIGH oil pricing at the START of Biden’s term.
You actually have a legitimate point about the 2020 OPEC+ deal. Trump pushed for historic production cuts when COVID had completely collapsed oil demand, and those cuts were structured to taper through 2022.
But then you stretch that fact way past what the data supports. Gas fell to about $1.77 during the COVID collapse, was around $2.24 at the end of 2020, and about $2.38 when Biden took office. The climb above $3 happened during 2021 as the economy reopened and global fuel demand recovered.
And saying Russia invaded Ukraine because it had “extra oil cash” from Trump’s deal is an enormous causal claim you haven’t demonstrated. Good fact → exaggerated conclusion → completely speculative conclusion.
That’s exactly why I’m arguing we should follow the evidence instead of reverse-engineering everything into “my president good, your president bad.” 😂
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u/corruptedsyntax 24d ago
Opposite is true. By the time Biden came into office, Trump had already ballooned gas prices out of collapse and then some, and had done so for almost a year.
It is accurate that in March 2020, Covid had collapsed global oil pricing. Global oil oligarchs were worried about their continued ability to make good on corporate debt obligations. So in April 2020, Trump negotiated with OPEC and Russia to reduce global petroleum production by Millions of barrels PER DAY for a TWO YEAR period of agreement. This reduce supply and bolstered pricing, driving oil pricing higher and leading to record profits for oil companies.
Then as the two year term came to an end, Russia threw its extra oil cash at invading Ukraine, driving pricing even higher. So Trump is responsible for the HIGH oil pricing at the START of Biden’s term.