The price of oil – too expensive?

The American President is both irresponsible and foolish. Most people, except his supporters, probably agree with that because he twitters nonsense like some noisy small bird. But there is another more serious reason to understand why this description is true and that has serious consequences for all of us. 

The President has made a majestic announcement that the price of oil is too high. It appears that he has “asked” Saudi Arabia to increase production to achieve lower prices, something that will be “great” for the economy.

It is completely incomprehensible that a person who claims to believe in open and free markets is using the political and administrative power to cause oil prices to fall. If politicians start to interfere in important markets like oil then we will all end up in a new Communist States of American with Banana Republic President Trump telling the rest of the world what they can do and not do just to enrich him and his fellow supporters.

A second and more disturbing thing is that higher oil prices help renewable energy with less emissions to take over faster… 

America is the biggest polluter in the world and they need to be weaned off oil not get more cheaper stuff because their current leader thinks that is is a great idea…

As a reminder oil is cheaper now than 10 years ago in dollar terms and in Euros. Then is was USD136 or €80, while now it is USD69 or €59 a barrel…

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