Oil prices soar after Trump dumps Iran nuclear deal

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floridafan

Verified User
Time to blame Trump for extremely high gas prices?

Oil prices finished Wednesday's session at new 3½-year highs after President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.

Ignoring pleas by allies, Trump on Tuesday pulled out of an international nuclear deal with Iran that was agreed in late 2015, raising the risk of conflict in the Middle East and casting uncertainty over global oil supplies at a time when the crude market is already tight.

Futures extended gains after the U.S Energy Information Administration reported U.S. stockpiles of both crude oil and gasoline fell by 2.2 million barrels in the week through May 4.
Oil prices finished Wednesday's session at new 3½-year highs after President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.
 
floridafan said:
Time to blame Trump for extremely high gas prices?

Oil prices finished Wednesday's session at new 3½-year highs after President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.

Ignoring pleas by allies, Trump on Tuesday pulled out of an international nuclear deal with Iran that was agreed in late 2015, raising the risk of conflict in the Middle East and casting uncertainty over global oil supplies at a time when the crude market is already tight.

Futures extended gains after the U.S Energy Information Administration reported U.S. stockpiles of both crude oil and gasoline fell by 2.2 million barrels in the week through May 4.
Oil prices finished Wednesday's session at new 3½-year highs after President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.
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US gas prices up 30% in last year, thanks to Trump!
 
Trump withdraws U.S. from the Iran nuclear deal. Here's what you ...


Claim: Says “last week, Israel published intelligence documents, long concealed by Iran, conclusively showing the Iranian regime and its history of pursuing...

http://www.politifact.com/truth-o-m...withdrew-us-iran-nuclear-deal-heres-what-you/

Excerpt:

Trump withdraws U.S. from the Iran nuclear deal. Here's what you ...


Claim: Says “last week, Israel published intelligence documents, long concealed by Iran, conclusively showing the Iranian regime and its history of pursuing...

http://www.politifact.com/truth-o-m...withdrew-us-iran-nuclear-deal-heres-what-you/

Excerpt:

Did Iran get billions from the deal?
Trump said the deal handed the regime "many billions of dollars, some of it in actual cash. A great embarrassment to me as a citizen and to all citizens of the United States."

The deal released Iranian assets frozen under a variety of sanctions. The key point is that these assets, whether they were cash in the bank, real estate or something else, belonged to Iran in the first place.

The United States did deliver about $1.7 billion in cash to Iran. That represented $400 million plus interest that Iran had paid the United States before the Iranian revolution in 1979 for military hardware that was never delivered.

The total value worldwide of freed Iranian assets was about $56 billion, according to a 2015 estimate from the U.S. Treasury Department.

Was Iran in compliance?
The deal restricted certain Iranian nuclear activities for periods between 10 to 25 years, and allowed for more intrusive, permanent monitoring. It also forbid Iran from pursuing nuclear weapons in the future. (You can read more details here.)

We previously found that Iran had largely complied with the deal, and many experts praised the pact for keeping nuclear weapons out of the hands of Tehran.

Over the 28 months the deal has been in effect, the International Atomic Energy Agency, the foremost authority on the matter, said it found Iran committed no violations — aside from some minor infractions that were rectified.
 
kudzu said:
Yep.... Trump likes to take credit.. LOLOLOL
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Gas prices went up 96% under Obama. Why didn't you call him out for that? Obama's defenders claimed the President has no control over it. Why does the President suddenly have that ability?
 
The Irony Of President Obama's Oil Legacy - Forbes

https://www.forbes.com/sites/rrapier/2016/01/15/president-obamas-petroleum-legacy/#21e8eb9ec10f

Jan 15, 2016 - President Barack Obama speaks at the TransCanada Pipe Yard in Cushing, ... During President Bush's last year in office, 2008, U.S. crude oil ...


In the year 2000, just before President Bush took office, U.S. crude oil production averaged 5.8 million barrels per day (bpd) according to the Energy Information Administration (EIA). During President Bush's last year in office, 2008, U.S. crude oil production averaged 5.0 million bpd.

The irony is that President Obama - who is not viewed as a friend of the oil and gas industry - has presided over rising oil production in each of the seven years he has been in office. (On a separate note, expect that streak to be broken in 2016).

From that low point in 2008, U.S. oil production has grown each year to reach 9.4 million bpd in 2015 -- a gain of 88% during Obama's presidency. This is in fact the largest domestic oil production increase during any presidency in U.S. history.
 
CFM said:
Gas prices went up 96% under Obama. Why didn't you call him out for that? Obama's defenders claimed the President has no control over it. Why does the President suddenly have that ability?
Click to expand...

Oil production increased every year of Obama's presidency.
 
Legion said:
Did you attribute retail gasoline price fluctuations to Obama's policies?

170106094249-09-obama-economy-gas-prices-update-780x439.jpg
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The Irony Of President Obama's Oil Legacy - Forbes

https://www.forbes.com/sites/rrapier/2016/01/15/president-obamas-petroleum-legacy/#21e8eb9ec10f

Jan 15, 2016 - President Barack Obama speaks at the TransCanada Pipe Yard in Cushing, ... During President Bush's last year in office, 2008, U.S. crude oil ...


In the year 2000, just before President Bush took office, U.S. crude oil production averaged 5.8 million barrels per day (bpd) according to the Energy Information Administration (EIA). During President Bush's last year in office, 2008, U.S. crude oil production averaged 5.0 million bpd.

The irony is that President Obama - who is not viewed as a friend of the oil and gas industry - has presided over rising oil production in each of the seven years he has been in office. (On a separate note, expect that streak to be broken in 2016). From that low point in 2008, U.S. oil production has grown each year to reach 9.4 million bpd in 2015 -- a gain of 88% during Obama's presidency. This is in fact the largest domestic oil production increase during any presidency in U.S. history.
 
Legion said:
I already saw that and I know it's factual. Answer my question.

Did you attribute retail gasoline price fluctuations to Obama's policies?
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There are several factors.. Libya and Yemen lost production.. Iran was under sanctions.

The reason domestic producers got busy was because the ppb was high.. That's why the rig count grew so spectacularly as it hadn't since the 1970s.
 
krudzu said:
There are several factors.. Libya and Yemen lost production.. Iran was under sanctions. The reason domestic producers got busy was because the ppb was high.. That's why the rig count grew so spectacularly as it hadn't since the 1970s.
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Still evading the question you were asked, I see

Did you attribute retail gasoline price fluctuations to Obama's policies?
 
Legion said:
Still evading the question you were asked, I see

Did you attribute retail gasoline price fluctuations to Obama's policies?
Click to expand...

Are you under some delusion that the President controls oil prices? LOLOL.. I know Trump is taking credit and now claims he pressured OPEC to increase production , but he is FOS..

Remember, VZ oil production is also in the crapper.
 
krudzu said:
Are you under some delusion that the President controls oil prices?
Click to expand...

I don't recall saying that. Deflect much?

krudzu said:
I know Trump is taking credit and now claims he pressured OPEC to increase production , but he is FOS..
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Is he?

Legion said:
Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, while OPEC's chief said a complaint from U.S. President Donald Trump over higher prices triggered the idea of upping output.
https://www.usnews.com/news/top-news/articles/2018-05-25/exclusive-opec-russia-discuss-raising-oil-output-by-about-1-million-barrels-per-day-sources
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You already tried to insinuate that Trump is responsible for high gas prices, as I recall.

krudzu said:
Gasoline is $5,00 a gallon in NYC.
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Of course, when I proved that gas could be had for considerably less in multiple locations in Manhattan, you ran away.

Still avoiding the question?

Did you attribute retail gasoline price fluctuations to Obama's policies?
 
Legion said:
I don't recall saying that. Deflect much?



Is he?



You already tried to insinuate that Trump is responsible for high gas prices, as I recall.



Of course, when I proved that gas could be had for considerably less in multiple locations in Manhattan, you ran away.

Still avoiding the question?

Did you attribute retail gasoline price fluctuations to Obama's policies?
Click to expand...


I didn't insinuate anything... Trump announced with great pride that he was pulling out of the Iran Nuclear agreement and the ppb SPIKED.
 
krudzu said:
I didn't insinuate anything...
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Really?

What was the purpose of these posts of yours in a thread about rising economic prospects under Trump?

krudzu said:
Gasoline is $5,00 a gallon in NYC.
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krudzu said:
Gas hits $5 a gallon in New York City - Story | WNYW | 4conservative ...

https://www.4conservative.com/item/5324493/gas-hits-5-a-gallon-in-new-york-city-story-/

4 hours ago - With the summer travel season fast approaching, gas prices are on the rise but some people are getting sticker shock in Manhattan.
Click to expand...

While you're trying to think of a way to explain those posts that doesn't reflect poorly on you, answer my question.

Did you attribute retail gasoline price fluctuations to Obama's policies?
 
CFM said:
Gas prices went up 96% under Obama.

Care to address that fact, n-lover?
Click to expand...

No they didn't... Every single year of the Obama administration domestic production increased and the rig count was higher than it had been in the 1970s.

When Bush took office the US was producing 5.6 million bpd... That fell to 5 million bpd.. When Obama left office it was just short of 10 million bpd.
 
Legion said:
Really?

What was the purpose of these posts of yours in a thread about rising economic prospects under Trump?





While you're trying to think of a way to explain those posts that doesn't reflect poorly on you, answer my question.

Did you attribute retail gasoline price fluctuations to Obama's policies?
Click to expand...

You have a link from 4conservative.com.... READ it.
 
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