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Oil

Has Trump found religion on low oil prices?

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Listen: Has Trump found religion on low oil prices?

President Donald Trump once saw gasoline prices below $1/gallon one of his greatest assets in his re-election campaign, but low oil prices have pushed US shale and American energy dominance to the brink of collapse and his views have changed.

On this week's podcast, Bob McNally, president of Rapidan Energy Group, talks about the new OPEC+ agreement, the damage the price war may have had on US-Saudi relations, and where the "new normal" for global oil demand might be after global coronavirus restrictions are eased. McNally also talks about why Trump, a major fan of low gasoline prices and outspoken OPEC critic, now sees that oil prices can fall too low and why his view of the market has shifted on the fly.

McNally is a former White House energy adviser and author of the book "Crude Volatility: The History and the Future of Boom-Bust Oil Prices."

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