Oil surges 35% this week for biggest gain in futures trading history

I don’t think politicians are thinking that far in advance. Right now the first hurdle to jump is to get the prices back down before the midterm or their goose is cooked. According to Reuters, this full-blown, stupid azz Middle-East war has drove oil prices back to the levels when Joe Biden was steering the economy back in 2022!! :scream::scream:

https://www.reuters.com/business/energy/us-oil-prices-jump-supply-fears-amid-expanding-us-israeli-war-with-iran-2026-03-08/

LOL. Not unless he becomes interesting he won’t!

But see G. Gordon Libby: Ex Watergate Conspiritor made the speaking rounds. Actually heard him speak once at my university. He of course though, was interesting.

Republicans are terrified about oil prices and the midterms. Not Trump though. Definitely not Trump. Trump’s not on the ballot. Trump couldn’t care less about the midterms except for the possibility of getting impeached again. He only cares about himself.

Presidents can’t cause as much destruction if the House & Senate aren’t on board. If oil prices are high come October & November & Arlington National Cemetery is being filled at a faster pace than usual the juggernaut of change that’s been going on will screech to a halt IMO.

Agree with the first part, but what drove oil prices up in 2022 was not Joe Biden, it was the Russian invasion of Ukraine.

Goldman Sachs has said Iran’s effective blockade of the waterway has had an impact 17 times larger than the peak April 2022 hit to Russian oil production after the Ukraine invasion, which pushed the oil price to about $139 a barrel.

PS: Although it MAY looks like the US President is responsible for a lot of the problems in the world lately, there are others that wants to claim the “honour” of being the world’s nemesis.

Oil prices jump up and down as a result of US news about the Strait of Hormuz

US Energy Secretary Chris Wright initially stated that the US Navy had escorted an oil tanker through the Strait of Hormuz. The post was later removed.

Source: Oljeprisen hopper opp og ned som følge av amerikansk nyhet om Hormuzstredet – NRK Urix – Utenriksnyheter og -dokumentarer

What a way to run “the greatest country in the world”.
Putin and Xi is laughing their head off. :anguished_face:

Another source for this news (in case NRK is not “acceptable”):slight_smile:

And Covid.