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I know there's a lot of other stuff going on, but surprised not to see more commentary about how weird it is for the U.S. president to be trying to organize an oil cartel 1/ bloomberg.com/news/articles/…
Among other things, we are still a slight net importer of petroleum products, so higher oil prices, other things equal, hurt US real income 2/ fas.org/sgp/crs/misc/R…
What is true is that energy accounts for a surprisingly large share of business investment, so talking up oil prices is in a weird way a kind of Keynesian stimulus. But I thought Republicans don't believe in that? 3/
Also, fracking appears to be a huge, debt-fueled bubble, and attempts to avoid a reckoning are probably doomed to failure 4/ nytimes.com/2020/04/10/opi…
Of course, it might be relevant to look at political contributions by the oil and gas industry 5/ opensecrets.org/industries/tot…
My sense is that there's also a sort of ideological thing: conservatives love to talk about the wonders of fracking, and still think of renewables as hippie stuff even though they're now a huge sector 6/
Anyway, amid everything else it's hard to focus. But Trumpian favoritism on fossil fuels is quite something 7/
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