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Page added on September 26, 2018
If Trump wants oil price to stop going up, he should stop interfering in Middle East
U.S. President Donald Trump should stop interfering in the Middle East if he wants the price of oil to stop rising, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday.
“Mr Trump is trying to seriously reduce exports of Iran’s oil and also ensure the price of oil does not go up, but these two cannot happen together,” Zanganeh said, according to the Iranian Students’ News Agency.
“If he wants the price of oil not to go up and the market not to get destabilized, he should stop unwarranted and disruptive interference in the Middle East and not be an obstacle to the production and export of Iran’s oil.”
Trump, not the Organization of the Petroleum Exporting Countries, is behind the recent rise in prices, Zanganeh said.
“Trump blames OPEC for what he has created and caused: the rise of the price of oil and disturbance in the market.”
OPEC members do not have the capacity to increase production, Zanganeh said.
In a speech at the United Nations on Tuesday, Trump reiterated calls on OPEC to pump more oil and stop raising prices. He also accused Iran of sowing chaos and promised further sanctions on the country.
The United States will apply sanctions to halt oil exports from Iran, the third-largest producer in OPEC, starting on Nov. 4. The pending loss of Iranian supply has been a major factor in the recent surge in crude prices.
7 Comments on "If Trump wants oil price to stop going up, he should stop interfering in Middle East"
dave thompson on Wed, 26th Sep 2018 8:25 am
The U$ and others have been interfering in the middle east for more than a century. Blaming Trump for the current state of affairs with his administrations interference is laughable. Every administration has interfered with the middle east, yawn.
Sissyfuss on Wed, 26th Sep 2018 9:49 am
Trump is like a spoiled 12 year old that discovered the combination to the GM safe. Hilarity ensues.
Sissyfuss on Wed, 26th Sep 2018 2:50 pm
Gun safe, you moronic auto incorrect.
Chrome Mags on Wed, 26th Sep 2018 3:40 pm
dt, Trump is the sole individual currently in the top power position in the US that has placed sanctions on Iran and threatened countries that buy Iranian oil. That’s what’s driving higher oil price as investors speculate on reduced supply due to projected less oil exporting from Iran beginning in November. This isn’t about a long term pattern of behavior, it’s about what’s happening currently.
Trump doesn’t want to see he caused higher oil price, instead (like he always does) is blaming elsewhere, in this case blaming OPEC for lack of sufficient production to keep price lower. He doesn’t even understand what he’s done.
Let’s say a truckload of apples is sold each day, but someone in power puts sanctions on one of the owners of apple trees, and less apples make it to the truck. Fewer apples, which is lower supply, but same demand leads to higher price, cause and effect, one thing leads to another.
Outcast_Searcher on Wed, 26th Sep 2018 6:22 pm
The principle is correct. Ignoring many decades of US behavior/policy before Trump, and pretending like this is a Trump-only issue is completely moronic.
Oh, and it’s moronic of Trump to blame OPEC on rising oil prices. An intelligent US energy policy over time, heading for energy independence would be great US protection against higher oil prices — yet it’s CRICKETS from the left and the right as far as actually doing anything meaningful to achieve that.
Outcast_Searcher on Wed, 26th Sep 2018 6:25 pm
Chrome, that’s only ONE factor in a big complex set of factors that comprise global oil supply and demand.
If this were 2H 2014 or 2015, it wouldn’t be much of an issue since oil was perceived as being oversupplied.
You can’t look at such issues in isolation in a global, complex system, and expect to make meaningful conclusions.
Free Speech Message Board on Wed, 26th Sep 2018 10:04 pm
Americans said that they hated freedom 100 years ago because the environment was dirty, there were murders, and medicine was dangerous, but the US is now a police state and the environment is still dirty, there are still murders, and medicine is still dangerous.