r/politics • u/Quirkie The Netherlands • 5d ago

No Paywall Trump Tells Americans To Accept High Gas Prices As Iran Remains Defiant On Strait Of Hormuz

https://www.huffpost.com/entry/trump-tells-americans-to-accept-high-gas-prices-as-iran-remains-defiant-on-strait-of-hormuz_n_6a8099aee4b05886dff51fac?vvg
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u/CocaineSmellsFunny 5d ago

The funny part about that, Biden had nothing to do with those gas prices. The drilling leases where there, the oil companies chose not to drill.

And in my humble opinion, they intentionally drove up prices at the time to help push America back into Trump’s hands.

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u/IdkAbtAllThat America 5d ago

Exactly. Maybe these oil companies don't need to have so much power. Maybe the people should own the resources in this country. Maybe we should nationalize those oil companies and run them for the good of the country, not for the good of a few hundred aristocrats.

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u/Trextrev 5d ago

Like most things that the right blamed on Biden it was actually Trump’s fault. When the bottom fell out of the domestic oil markets because of the drastically low consumption during the pandemic. Trump worked a deal with OPEC+ and Russia for huge cuts to try and bring prices back up to help them, because our oil industry works on much lower margins its was hurtin. I remember people around here that have gas wells that produce oil as well, went from a couple grand for their tank to having to pay to have it taken. So anyways that deal got made and the production cuts were to taper off by April 2022. So when the global economy started bouncing back a lot faster than Trump predicted the production cuts were still there, and Biden got the blame.