As I watched President Donald Trump paying homage to the Saudi Arabian Royal Family, I wondered if there might be a hidden agenda in all of this pomp and circumstance that may be harmful to the American people. You need only to recognize that the price of gasoline dropped significantly under Former President Barack Obama. Gas Price History Graph (historic prices)
Gasoline drop from 4.59dollar per gallon back down to roughly 1972 prices ~2.00 plus per gallon. Then you realize that one of the basic tenets of marketing is overprice products will draw substitute products into the marketplace.
OPEC felt they could set the price of oil without regard for the financial health of the American people. They failed to keep in mind that Americans are excellent at developing substitute products in overpriced markets.
The cry in the US became energy independence. Wind, solar, tar sands, nuclear, fracking, pipelines, and so on gained legitimacy in the economic mainstream. Hence, America is believed to be now energy independent offering the Saudis little opportunity to squelch these new technologies.
ZFacts.com makes a Saudi case, . . . “They know that too high a price for too long, greatly encourages alternatives to their oil supplies. Last time that was North-Sea and Alaskan oil. This time its tar sands, fracking and just maybe green energy (although that’s still every little competition). Private investment in more fragile that OPEC’s state investments, so they know they may be able to force some out of business, or at least greatly disrupt investment in OPEC alternatives.”
Clearly the Saudis do not have the best interest of the American people at heart. They are able to dupe Trump into signing a big deal that the American people may pay for should they get to force gasoline prices back up making it become tantamount to a wage tax on all Americans.
Thus was Donald Trump’s ballyhooed Saudi Arabian trip nothing more than a nefarious act against the American people to keep us from enjoying the fruits of being energy independent?