Donald Trump was on the news today saying that our friends the Saudis are responsible for the high oil prices?

If this is true should we be providing them with arms and security? Could our President demand that they lower the prices?Donald Trump was on the news today saying that our friends the Saudis are responsible for the high oil prices?
Wall Street has much more to do with the prices we pay in this country then Saudi Arabia. Half the price of gasoline here is fear, pure speculation.Donald Trump was on the news today saying that our friends the Saudis are responsible for the high oil prices?
oil prices will go up more now, because they had to pay us for those arms, it never fails how the repubs can take even more from us
The Saudis are drilling as fast as they can, but they may already have reached ';peak oil'; production.





Oil is traded on the open market where price is a function of demand and supply. Are you suggesting that Bush insist the Saudis sell oil to the US at $50/barrel when the market price is $100/barrel?





If this is so, China would happily arm and protect the Saudis against the US.





What should worry you most is when oil producers realise how volatile the US$ is, and start trading oil in harder currencies than the US$ e.g. the Euro. If you had to buy oil in Euros it would cost above $200/barrel.





As it is, the USA has a strategic reserve of years of oil, deliberately left in the ground, and more available as Oil Shale in the Rockie Mountains, which becomes economical to extract at $55/barrel.
The only thing Trump is good for is a laugh.





He has been bankrupt more times than gary coleman.
Yes.


The Saudis are our friends.





Anyway----- the Saudis gave 10 Million Dollars to the Clinton Library.





(It was ';pay-back'; time.)
Trump is correct.





The Saudis are restricting oil production because the value of the US dollar has fallen 35% in the last 6 years.





The US dollars they are holding isn't worth as much, so they are going to restrict production which will keep the price of oil inflated, that way they make more money to cover the loss in value.
Very true.
Unfortunately, the Saudis have us by the proverbial ';short ones'; on this. Stop the security and arms, pay more for the oil. Essentially, it is extortion.
There'll never be enough oil to keep Donald Trump's hair in place!
The Saudis have a geographically strategic position, and the US plays nice with them more than we'd like to. As a tradeoff for letting us keep soldiers there so we have a little better foothold in the Middle East (which we've been doing for decades), we buy oil from them, and overlook things like the way they treat women (which we've been doing for decades).





In an ideal world, we would not have to do business with the Saudis, although in the real world there are much bigger fish to fry, and as Clinton and Bush and Reagan all knew, we have to make friends we might not like, in order to accomplish the other things we choose to do.