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Trump: Obama Cut Deal with Saudis to Keep Oil Prices Low Until Election
Breitbart ^ | 06/13/2012 | Breitbart

Posted on 06/14/2012 8:03:14 AM PDT by izzatzo

CNBC HOST: Donald, you see the OPEC news this morning? Venezuela wants OPEC to stop pumping more, overproducing, they are saying, that, because Saudi Arabia is pumping above the limits it's supposed to be doing to help us out a little bit and Venezuela is complaining and right now you're looking at oil prices at about back around $82.

DONALD TRUMP: That's still very high, Becky, they should be at $30 if you look at free market. I think Saudi Arabia is doing Obama a big favor. Look, you have to do be a favor, I have to get elected, you can't do it like you've been doing the last three years driving it up to $150 because that's where it's going and I think Saudi Arabia is doing Obama a big fat favor. I think he asked for the favor and prices are coming down, but also the economy's going bad so maybe it won't help that much. but as soon as -- assuming if Obama got elected, you're going to see something with oil like you've never seen before, it will go through the roof. The favor will be repaid many times over

(Excerpt) Read more at breitbart.com ...


TOPICS: Government; Politics/Elections
KEYWORDS: obama; saudis; trump
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I'm with the Donald on this.
1 posted on 06/14/2012 8:03:24 AM PDT by izzatzo
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To: izzatzo

How high could oil prices go with nobody having any money to buy gas with?


2 posted on 06/14/2012 8:05:49 AM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: izzatzo

> I’m with the Donald on this.

Second that.


3 posted on 06/14/2012 8:06:12 AM PDT by Westbrook (Children do not divide your love, they multiply it.)
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To: izzatzo

Donald is a moron.

Saudis no longer control the price of oil. After it was commoditized OPEC lost any control over oil prices. It’s now supply, demand and speculation that control the price.


4 posted on 06/14/2012 8:06:44 AM PDT by TheRhinelander
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To: BenLurkin

3.60 a gallon is considered LOW? When W was around anything over three bucks was the end of the world. Times change, I guess.


5 posted on 06/14/2012 8:09:30 AM PDT by shelterguy
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To: izzatzo

Now, really. How can Mr. Trump know this? In addition to which, the Saudis are pumping oil like crazy anyway. They’re beating the crap out of all those old wells they have.


6 posted on 06/14/2012 8:09:39 AM PDT by RexBeach (Mr. Obama Can't Count.)
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To: izzatzo

I think..I think..I think..the Donald is a duck.


7 posted on 06/14/2012 8:10:07 AM PDT by bkepley
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To: izzatzo
Hell YES he did... The Saudis leased dozens of tankers to help their Mooselimb brother in his reelection bid by bringing the price of gasoline down from an increase in supply.

The question is, what are they expecting in return?

8 posted on 06/14/2012 8:11:11 AM PDT by Errant
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To: izzatzo

bump


9 posted on 06/14/2012 8:12:05 AM PDT by GOPJ (Take your little hammer, little sickle and your scary red signs with a fist on it, and go home...)
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To: izzatzo

Low? Where??


10 posted on 06/14/2012 8:13:25 AM PDT by Fawn
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To: RexBeach

Wasn’t that in the wikileaks deal?
The Saudis admitted that they have no more capacity than they are currently using?


11 posted on 06/14/2012 8:13:48 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: izzatzo

Our communists master King Obama will do anything to get reelected so he can finish screwing America. He doesn’t care how he hurts the masses of people as long as he gets his goodies. And at least half of Americans are blind and pure ignorant to support this communists con man. Trump is right on. Then if reelected he will force the world suppliers to run oil up to 200 a barrel and pump prices at 10 a gallon. Have fun America.


12 posted on 06/14/2012 8:16:39 AM PDT by Logical me
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To: izzatzo

The dollar price of motor fuel is falling....

But it is STILL way high!

Sometimes I think it’s a shame, When I get feelin’ better when I’m feelin’ no pain (nod to Gordon Lightfoot)


13 posted on 06/14/2012 8:17:48 AM PDT by alloysteel (Fear and intimidation work. At least on the short term.)
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To: izzatzo

Donald has the right idea, but gives too much credit to zero and the Saudi’s for overt implementation of setting price.

The implicit agreement for the Saudi’s: zero, you keep bowing, and we’ll keep pumping. They like having this joker green environmentalist as US president, because they know that zero is good for the long term price of oil.


14 posted on 06/14/2012 8:18:32 AM PDT by cicero2k
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To: MrB

The Saudis are pumping like mad. They are near or at 100% capacity.


15 posted on 06/14/2012 8:20:09 AM PDT by RexBeach (Mr. Obama Can't Count.)
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To: Errant
The question is, what are they expecting in return?

Keystone pipeline?
16 posted on 06/14/2012 8:23:50 AM PDT by PA Engineer (Time to beat the swords of government tyranny into the plowshares of freedom.)
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To: PA Engineer

The thwarting of the Keystone pipeline was a payback to Warren Buffet.


17 posted on 06/14/2012 8:25:57 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: izzatzo; All
"Trump: Obama Cut Deal with Saudis
to Keep Oil Prices Low Until Election"

18 posted on 06/14/2012 8:27:47 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: MrB

When oil was $90+ local gas was $3.59, now at $81 gas is back up to $3.89.


19 posted on 06/14/2012 8:30:47 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Errant
The question is, what are they expecting in return?

Consider it an investment. Obama blocks domestic production and Canadian oil sands to keep the supply depressed and the value of Saudi oil goes up. Obama knows a little about supply and demand, he just rejects individuals participating in the market.

20 posted on 06/14/2012 8:31:47 AM PDT by trubolotta
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To: izzatzo

I think The Donald is blowing smoke on this one. While crude prices have declined from their peaks earlier this year, this is due to the worldwide economy, including ours, going into a swoon. China, India, almost all of Europe, and increasingly the U S of A appear to be in the second dip of the feared “double-dip” recession, which, in the case of ours, will probably eventually be correctly blamed on the earlier surge in oil prices.

The majority of the recessions striking our economy since the seventies, in fact, have been caused by energy price spikes, or such spikes were at the minimum a major contributing factor.

Besides, the $3.75 I paid to fill up here yesterday traveling through Idaho Falls sure as hell doesn’t fit my definition of “low”.


21 posted on 06/14/2012 8:32:44 AM PDT by Spartan79 (I view great cities as pestilential to the morals, the health, and the liberties of man.)
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To: musicman

LOL!


22 posted on 06/14/2012 8:32:44 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: izzatzo
It's a ridiculous assertion.
The Saudis can pump crude all they want but we're in a recession and products from crude, like gasoline, are slow selling.
23 posted on 06/14/2012 8:34:35 AM PDT by Eric in the Ozarks
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To: Beagle8U

24 posted on 06/14/2012 8:35:17 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: PA Engineer
I'd say you're right and add that Keystone is a part of the overall plan to keep America from using its own resources; with the same stone, helping Warren Buffett, a major Obama supporter, with his railroad investment.

Another trade-off is likely Obama's continuing efforts to plant and cultivate Islam here in America.

Do you get the feeling that this has all been well planned, years in advance?

25 posted on 06/14/2012 8:35:52 AM PDT by Errant
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To: Errant
Hell YES he did... The Saudis leased dozens of tankers to help their Mooselimb brother in his reelection bid by bringing the price of gasoline down from an increase in supply.

The question is, what are they expecting in return?


Let's just say, after the election, he'll have more flexibility in that matter.
26 posted on 06/14/2012 8:36:39 AM PDT by crosshairs
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To: TheRhinelander
It’s now supply, demand and speculation that control the price.
I think it's down to speculation. Over the last year or two, I've read where we've been awash in oil, but the price still keeps going up.
27 posted on 06/14/2012 8:37:37 AM PDT by oh8eleven (RVN '67-'68)
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To: musicman

The world is lucky that I don’t have the computer skills to do photoshop, much less video.


28 posted on 06/14/2012 8:38:05 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: shelterguy

Now now, don’t you remember? Pelosi promised that we would “NEVER see three dollar gas again”. It’s just us stupid proles who didn’t realize she was talking about it being ‘greater than’ instead of ‘less than’ :-)

What was it when the Dems took over congress?


29 posted on 06/14/2012 8:39:53 AM PDT by RedStateRocker
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To: shelterguy

Now now, don’t you remember? Pelosi promised that we would “NEVER see three dollar gas again”. It’s just us stupid proles who didn’t realize she was talking about it being ‘greater than’ instead of ‘less than’ :-)

What was it when the Dems took over congress?


30 posted on 06/14/2012 8:43:24 AM PDT by RedStateRocker
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To: TheRhinelander

—Saudis no longer control the price of oil. After it was commoditized OPEC lost any control over oil prices. It’s now supply, demand and speculation that control the price.—

I tend to agree with that. We are also in the biggest oil and natural gas boom in the history of mankind. The myth of peak oil has been utterly outed. The only limitation on production is our ability to extract it and EPA regulations.


31 posted on 06/14/2012 8:43:24 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: musicman; All
LOL! :-D
pResident O'Bozo: "Next!" :-D

32 posted on 06/14/2012 8:43:46 AM PDT by skinkinthegrass (WA DC E$tabli$hment; DNC/RNC/Unionists...Brazilian saying: "$@me Old $hit; different flie$". :^)
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To: trubolotta
Obama blocks domestic production and Canadian oil sands to keep the supply depressed and the value of Saudi oil goes up.

Exactly!

He's the tool, it's the master craftsmen in the background with the blueprints that we should concern ourselves with.

The bastards have their Obama/Progressive boot on the neck of America, its people, and the entire world.

33 posted on 06/14/2012 8:43:57 AM PDT by Errant
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To: TheRhinelander

—Saudis no longer control the price of oil. After it was commoditized OPEC lost any control over oil prices. It’s now supply, demand and speculation that control the price.—

Oh, and Thomas Gold is looking to be correct about abiotic oil. If true, that is a game changer too.


34 posted on 06/14/2012 8:44:49 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: crosshairs

Indeed.


35 posted on 06/14/2012 8:46:21 AM PDT by Errant
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To: Beagle8U

When oil was $90+ local gas was $3.59, now at $81 gas is back up to $3.89.

You are on the right track. the price of oil has had little to no effect on the price of gas lately. I wold suspect something else is causing the price of gas to stay high. First thing the Romney admin would need to look at if elected is the EPA!!!


36 posted on 06/14/2012 8:49:19 AM PDT by BobinIL
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To: Beagle8U
When oil was $90+ local gas was $3.59, now at $81 gas is back up to $3.89. - Beagle8U
Somewhere out there, there must be a chart which documents that disparity in pricing during Obama's tenure and may prove to be politically useful during this election cycle.
37 posted on 06/14/2012 8:50:32 AM PDT by wtd
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To: izzatzo
The evidence is out there. It's just not being reported by the MSM.

According to Canada’s Globe and Mail, “319-day news: the within a few days, Saudi Arabia has hired a large number of supertankers, the number is huge unheard of. A few weeks later, the tanker from the world’s largest oil port – tower Nu pull Hong Kong to start, start the 40-day voyage, the end of the U.S. Gulf Coast.

Its goal is clear – and lowered oil prices.

http://www.financialinfo.co/saudi-supertanker-dispatched-cool-price-cuts-for-the-global-oil-market.html

38 posted on 06/14/2012 8:52:48 AM PDT by Errant
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To: oh8eleven

This is somewhat true but demand was still high. Two things changed that: reduced demand here and the Chinese economy going down the crapper, thus less demand there as well.

The Canadians will not be amused.


39 posted on 06/14/2012 8:54:49 AM PDT by TheRhinelander
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To: RedStateRocker
"Pelosi promised that we would “NEVER see 3$ gas again..
What was it (gas/gal) when the Dems took over congress?"
was in 2007...$1.78/gal.(nat.)

40 posted on 06/14/2012 8:55:46 AM PDT by skinkinthegrass (WA DC E$tabli$hment; DNC/RNC/Unionists...Brazilian saying: "$@me Old $hit; different flie$". :^)
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To: BobinIL
With the cost of EVERYTHING gong up, I'm not surprised that a direct correlation between crude and refined breaks down. Refineries need electricity, pipe, chemicals, fuel, lawyers, accountants, regulatory compliance officers - it's all in their cost of doing business.
41 posted on 06/14/2012 8:58:19 AM PDT by trubolotta
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To: MrB
The thwarting of the Keystone pipeline was a payback to Warren Buffet.

I think it could be both, with Obama finding shelter and support with Buffet.
42 posted on 06/14/2012 9:10:38 AM PDT by PA Engineer (Time to beat the swords of government tyranny into the plowshares of freedom.)
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To: Errant
Do you get the feeling that this has all been well planned, years in advance?

I do think it was well planned and believe this was a coup.
43 posted on 06/14/2012 9:12:28 AM PDT by PA Engineer (Time to beat the swords of government tyranny into the plowshares of freedom.)
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To: Errant

>Do you get the feeling that this has all been well planned, years in advance? <

There is some fascinating information in the Breitbart comment section if you’re willing to wade through the “oh yeah, and so’s yer momma!” troll scat.


44 posted on 06/14/2012 9:30:58 AM PDT by Darnright ("I don't trust liberals, I trust conservatives." - Lucius Annaeus Seneca)
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To: Errant

America’s Dhimintude, jizya and subserviantude.

Subserviant behavior, thats all.

And that is consistent with Obama’s desires, so he too can rule like a monarch.


45 posted on 06/14/2012 9:39:07 AM PDT by himno hero (hadnuff)
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To: musicman
So, Obama would say that gas prices are "going all the way down?"

He's doing his part to keep it low at the pump.

46 posted on 06/14/2012 9:39:36 AM PDT by tnlibertarian
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To: Darnright

Thanks, I sometimes like the read the comments section, depending upon the site.


47 posted on 06/14/2012 9:49:58 AM PDT by Errant
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To: izzatzo
Good businessmen can be wrong when they venture out of their expertise and economics is one of those areas for Trump.

Given the value of the dollar, we will not see $30 oil for sometime. Even with good corn crops, prices remained high to historical norms.

Second the Saudi's are pumping oil because they even realize that Iran and Venezuela want production levels that hurt the US and the West and not for sound business reasons. Saudi is smart enough to realize healthy western economies is good for business.

Also, they want oil prices at level which will slow the US development of oil that is now coming online with new drilling techniques. They can't stop it, but keeping oil at reasonable levels will slow prospecting.

48 posted on 06/14/2012 10:05:05 AM PDT by 11th Commandment (http://www.thirty-thousand.org/)
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To: Darnright
"Due To The Extreme Volatility Some Market Analysts Foresee..."
49 posted on 06/14/2012 10:10:16 AM PDT by Errant
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To: Errant
The question is, what are they expecting in return?

An illegal ban on exploration in the Gulf of Mexico?

50 posted on 06/14/2012 10:31:35 AM PDT by kidd
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