NCRM
Trump Calls On ‘Everyone’ to ‘Keep Oil Prices Down’: ‘I’m Watching!’
Following a brief jump in oil prices following the United States’ attacks on Iran, President Donald Trump called for the world to keep prices low.
Trump made the call Monday morning on his social media platform Truth Social.
“EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!” Trump wrote.
In a follow-up post made two minutes later, he elaborated:
“To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!”
READ MORE: ‘Drill Baby Drill’: Trump Has Just One Answer When Asked How He Will Bring Food Prices Down
Oil prices did jump late Sunday night after the attack, according to the Associated Press, but had fallen by Monday morning. The jump was driven by the attack itself, but fell as investors speculated on how Iran would respond, the AP reported. While the price did fall, oil prices are still about $10 higher per barrel than they were last week.
Trump’s “Drill, Baby, Drill” refrain is a popular Republican slogan, calling for an increase in drilling for oil and gas on American soil. Advocates say this would reduce the United States’ reliance on foreign powers—like the OPEC nations—for energy. Critics point to the environmental impact, with the Center for American Progress warning that pro-drilling policies can cause more oil spills in the world’s oceans.
A “Drill, Baby, Drill” policy also has critics from the economic side. Though the industry does provide jobs, oil prices are too volatile to base an economy on, according to Ryan Cooper in The Week. Cooper and the CAP both also point out that focusing on fossil fuels undermines efforts to increase alternative energy sources like wind and solar—alternatives that could be more consistent and, unlike oil, do not run the risk of being depleted.
Trump has long railed against alternative energy sources. He famously said that wind turbines are harmful to birds. While it’s true that birds can be killed by wind turbines, experts at MIT say the number of birds killed annually from flying into turbines pales in comparison to most other causes of wild bird deaths. While turbines can be linked to between 140,000 and 679,000 bird deaths a year, cats kill between 988 million and 4 billion. Fossil fuel projects kill nearly 20 times more birds than turbines, MIT’s experts say.
Image via Reuters
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