OIL. The newest entertainment slop is to claim that the Democrats are colluding with Big Oil to keep prices elevated so as to eclipse the Midterms toward a Republican Loss. Apparently, Democrats are no longer the bearers of solar, wind and batteries and instead in bed with Big Oil. Interesting logic tossed about with all the fervor of a penny dropped in a waterfall. Trump claims he runs Big Oil. He loves Oil more than anything else in this world. He embraces oil like it is a child…
The citations compare the price of Crude in 2008 when it eclipsed to $147+ a barrel given demand from China and India. What they fail to mention is that oil collapsed to $30 by December 2008 as America fell into a Deep Recession just 4 months later!
The alternate hype is for a 2020-2022 comparable: In 2020 at the height of the Pandemic, US crude plummeted to -$37.63 as global travel came to a halt and demand was nonexistent. After lifting Pandemic restrictions in 2022, Brent Crude was the first to bounce hitting $120 and an average for the year of $95. By 2023, it had fallen to $68.11. March 2024 the price roared back to $83.96 as a result of Israel’s Hannibal Directive. By the end of 2024,yet another tumble took crude to $58.35 just as Trump took office in 2025. As Trump’s policies with Israel and against Iran took place, oil once again Skyrocketed to $108.64 WTI. Why? Trump bombed Iran. In 2026, Trump’s War played politics with shorts and longs based on Trump announcements, and oil remains a victim of Trump policies.
Sometimes reality is more than a single point in time. Sometimes it’s a recession, or a pandemic, but this time it was a War – wholly unnecessary, wholly incited by Trump against a sovereign nation on behalf of another country’s maniacal genocidal psychosis. The Jist: Now as the War with Iran continues on unsteady legs, the volatility remains and has nothing to do with elections and everything to do with family profits and deviant threats of Iran annihilation and WWIII!
US OIL INDEPENDENCE MATH: The US consumes 20.6 million barrels of oil daily. The US produces 13.94 million barrels of oil per day. The US exports 10.7 million barrels of oil per day. The US imports 8 million barrels of oil per day. 60% of those imports come from Canada, and 10% from Mexico. America steals roughly 300,000 barrels of oil a day from Venezuela. So Math it up: Production and imports and theft = total 24.94 vs consumption and exports = 31.3. Shortage = 6.36 million per day. This is why the prices are high – simple supply and demand.
Refineries: The US has 128 operating refineries. They are specific to auto, diesel and aviation. A total of 4 refineries have been shut down since January 2024 – 3 in California and 1 in Louisianna. The last time a major refinery was built in the US was 1977. The four were shut down by the oil companies operating them due to age predominantly. “Closures typically involve unprofitable, aging, or damaged plants requiring significant investment with uncertain returns, or facilities no longer aligning with a company’s strategy.” ~ Forbes.
Contrary to public opinion, refineries are not shut down by governors – they are shut down by their respective owners – The Oil Companies.
Oil companies are making huge profits right now because the production and consumption algorithm doesn’t change – just the price. It isn’t gouging, it is how free-markets work. With Trump charging tariffs on imported oil from Russia per the Lindsey Graham Ukraine Doctrine – those tariffs are scheduled to reach 100% to 500% and will be paid for by Americans upwards of 95%. That Trump gesture – will lead to massively higher prices and the Saudis will reap the rewards as they need to regroup after suffering damages into the tens of billions as a direct result of Trump.
Russia will continue its trade with India and China utilizing their own price point with payments in bitcoin or Yuan. Further hitting the dollar further debilitating the US economy. China will be fine. The supposed leverage Trump has over China doesn’t exist. China has made many friends while Trump and Israel have made enemies. Enemies don’t want to trade with a bully. Basic logic.
While Trump thinks his leverage is via tariffs, China really doesn’t care they will simply advance trade elsewhere -. Advanced chips?
While China has already made incremental advancements, they still have a round about via South Vietnam, Malaysia, Thailand and India. In addition, a shipment of F35 parts was ‘accidentally diverted’ from the US to Hong Kong – containing stealth technology and likely advanced chips. Reverse engineering may give China everything they need – cleaning house of ANY Trump leverage.
Trump gave China a two month extension on tariffs thereby allowing China a window to complete reverse engineering and share that stealth technology with Russia and Iran if it so chooses. Game Over The King is felled.
Meanwhile Trump is in trouble with regard to Rare Earths. Even IF he could advance exploration in Greenland (debatable) it would be years down the line before production. Therefore the eye is on Brazil, the second largest reserves in the world – however, they are not in production like China, those reserves are estimates of what is in the ground. Like Greenland production could be 5 years to a decade in the future.
Right now, Brazil is facing off an election in the coming week; Lula vs Bolsonaro’s son. Obviously, election interference is on the table and the CIA is actively inserting themselves to assure a Bolsonaro win amidst MUCH propaganda.
Therefore, Trump is attempting to playact as though he and Xi Jinping, are just great friends exchanging trivia… and partying. Although the absence of the ‘stripper wine glass girls’ seems off the table for this show.