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re: US crude output to rise to record 12.76 million bpd in 2023
Posted on 8/11/23 at 7:43 am to Motownsix
Posted on 8/11/23 at 7:43 am to Motownsix
quote:
It’s truly amazing that Trump lists energy independence as one of his accomplishments. He stood aside and watched SA bankrupt the US energy industry. There is not a single publicly traded US energy company that went up in stock price under his watch (even pre-Covid). Exxon went down by almost 50%. Anyone who invests in stocks know his term was brutal for the US. Yes there was cheap gas, but it was all from SA and it was a deliberate attempt to destroy the competition. It worked, and Trump did nothing. He claimed he begged them to lower production. He supposedly gave them weapons to keep prices here low, but he did nothing to save the 600+ US energy companies that went out of business.
It's a boom and bust commodity, please thank Trump for his non intervention.
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