The Market, Energy, And Political Page, T+54 -- April 23, 2018

I don't really see this as "Trump's revenge." This started well before Trump -- the US shale revolution. Trump simply inherited the deluge -- and actually the deluge began under Obama's watch. If folks go back to Bush II, one will find that Bush II was concerned with shortage of crude oil, and like most modern US presidents was begging Saudi Arabia to "go easy" on the US with regard to oil.

Obama had simply given up,



By the way, he was wrong on Trump, too. Both he and Hillary were working to elevate Trump among the fourteen original Republican candidates, figuring Trump would be the easiest to beat -- Hillary was most afraid of the "Bush" name -- but I digress.

Bush II, like most modern US presidents, had implored the Saudis to "go easy" on the US with regard to oil; Obama had simply given up even as Aubrey McClendon and Harold Hamm were drilling. Obama completely missed the revolution -- he certainly was not the sharpest knife in the drawer -- and Trump now presides over another problem -- but I don't see it as "revenge."

The article is a very, very good article for newbies, running through the various grades and sources of oil.

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