Price of gas: How Trump’s manipulation of oil policies reaped profits for Putin and fossil-fuel benefactors
It was a double-whammy for two of then-President Donald Trump’s biggest patrons, Vladimir Putin and American fossil-fuel billionaires and their industry: the price of oil was too low. Between the pandemic-induced collapse in demand for oil and the price war Saudi Arabia was then fighting with Russia — two of the world’s largest producers — Putin was being pinched badly. And in America, from Pennsylvania to Texas, oil producers were outright losing money on the oil they pumped. Gas prices were at record lows, gutting the profits even of refiners. So, Trump acted. It seemed inexplicable at the time,...
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