President Donald Trump said he would ask Saudi Arabia and other OPEC nations to “reduce the cost of oil” and double his threat to use prices.
In a speech to the leaders of the Davos World Economic Forum on Thursday, the American president said he was “surprised” that OPEC did not drop the price of oil before the elections.
“At present, the price is high enough for war to continue,” he said, referring to the Russian-Ukraine war and suggesting that the higher oil price helped maintain funding From conflict to Moscow.
“You must lower the price of oil, which will end this war. You could end this war,” he added
The president’s comments on the price of oil came after He spoke to the Saudi Crown Prince Mohammed Bin Salman on Wednesday. According to Saudi state media, Bin Salman is committed to investing up to $ 600 billion in the United States over the next four years, but this figure has not been mentioned in the White House Declaration After the call.
Despite the cordial exchange, Trump said he would ask “the crown prince, who is a fantastic guy, to complete about 1 TR”.
The price of crude has dropped by 1% following Trump’s comments.
According to David Oxley, chief economist of the climate and raw materials at Capital Economics, these comments comply with Trump’s desire to lower petrol prices.
“(It is) its clear intention to use energy as a lever effect on Russia to end the war in Ukraine. That said, the drop in oil prices will certainly not encourage oil producers Americans to “unravel, baby, pierce”- in particular in Alaska at a large cost.
“Of course, Saudi Arabia would not be guaranteed to take into account President Trump’s demand to extend oil production and reduce world oil prices.”
The appearance of the American president by video at the World Economic Forum has marked his first address to a global audience since his inauguration earlier this week.
He used the platform to insist that companies around the world make their products in the United States or face deadly prices on imported products entering the American market.
The BBC journalist, Oliver Smith, who was in the room with the delegates when the president had delivered his speech, said that there were “some faces of Stoney” while the leaders left the room after the speech, But also happy.
“A very powerful speech,” said one.
“I liked it, I thought it was really good,” said another, a delegate from the United States.
“It made sense. Commoned. He is just looking for a fair trade,” he added
A Swiss leader was however quite cut. “It’s not new, but it’s clear what it wants to do,” he said.
“Am I happy? No, I’m not happy. I think it’s bad for the world,” he added
Trump also declared that he would demand an immediate drop in interest rates, which, according to him, had led to deeper deficits and resulted in what he described as an economic calamity under the mandate of his predecessor , President Joe Biden.
“It starts with the confrontation of economic chaos caused by the failure of the policies of the last administration,” he said.
“In the past four years, our government has accumulated 8 billions of dollars in unnecessary deficit spending and has inflicted energy restrictions on the nation, paralyzing regulations and hidden taxes like never before.”
Trump also talked about “good, clean, coal” to power centers necessary for artificial intelligence. “We need double the energy we currently have in the United States, so that AI is as great as we want,” he said, adding that he would use decrees ‘Emergency to accelerate the construction of new power plants.
“Nothing can destroy the coal – not the weather, not a bomb, nothing,” said Trump.
