Trump spoke about this publicly, promising he would "fill the reserves right up to the top", then when in power, didn't do that but instead started a war with Iran while the reserves were still low.
It's mind boggling how stupid it all is.
It's mind boggling how stupid it all is.
I am not sure its stupid. My conspiracy theory is that Trump works/connected to US oil industry, who took control over Venezuela's oil and now printing record profits since all competition (Hormuz states, Russia) is suffering from infra damage.
Also still plausible that Trump is managing to line his own pockets with the profits of that Venezuelan heavy crude being sent to Qatar.
I think you just need to look at the administration's rhetoric since the war started to see they were surprised by this outcome.
they can keep prices using reserves until midterm, and Trump likely doesn't care what will happen after that
> they were surprised by this outcome.
they were surprised initially, but this is many months long story already, they had a chance to reassess situation and there is totally a chance that oil industry petitioned to not deescalate.
I don't think deescalation is on the table, regardless of big oil. The one supposed deal that Iran was on board with made Trump look like a loser and he will put boots on the ground before he allows that. After midterms, of course.
I don't think he cares, he will just declare victory as always.
E.g. he seems to be in absolute shambles over his approval rating while simultaneously claiming that the "real" polls make him look great.
As far as Venezuela is concerned, my understanding is that China is not thrilled with this deal and we've yet to see if it will actually happen. With Trump's record of actually delivering the goods, the odds are it will not.