Trump is Responsible for High Oil Prices
Why is gasoline over $5.00/gallon? One reason is that Donald Trump brokered a deal with OPEC oil producers in 2020 to cut production.
Trump plays key role in brokering historic oil deal
The deal reached by the so-called OPEC+ group, which ends the price war between Saudi Arabia and Russia, reduces global output by 9.7 million barrels per day in May and June, helping to ease a global gut exacerbated by the COVID-19 pandemic.
Production will also be reduced by 8 million bpd from July through December and 6 million bpd from January 2021 through April 2022.
Trump was “personally involved throughout the process” and “showed his skill at dealmaking,” Brouillette told reporters on a Sunday evening conference call.
Trump did not make any specific promises on behalf of U.S. production, according to Brouillette, who noted that Mexico agreed to cut output by 100,000 bpd in May and June and the “reduction of production within the United States will subsume whatever agreement the Mexicans would have been required to agree to under OPEC+.”
Trump said in a Monday morning tweet that "OPEC+ is looking to cut 20 Million Barrels a day, not the 10 Million that is generally being reported."
https://www. foxbusiness.com /markets/trump-saudi-arabia-russia-opec-oil-deal-role
Republicans are blaming Biden for high gas prices butt the reason is the decreased oil production brokered by Trump.
Joe Biden is planning a visit to Saudi Arabia to encourage OPEC to produce more oil. This will reduce the price of oil and, therefore, gasoline prices will go down.