The tweet says it all. A problem with the president’s logic is that crude oil is part of the cyclical, risk ‘on’ macro amalgam. The Saudis did not decide to let prices fall. Prices are falling. Period. Whatever manipulations the Saudis may or may not have attempted have limited efficacy. What, they drove oil down to $34 (WTI) in 2009 and $26 in 2016? I … Continue reading “Oil Prices Getting Lower. Great!”