Trump Didn’t Calm the Oil Markets. Now It May Be Too Late
- Crude meltdown is low on president’s list of priorities
- Saudi Arabia unmoved by Pompeo’s calls for restraint
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When Saudi Arabia kicked off its oil-price war and triggered the worst crude crash in a generation, U.S. President Donald Trump lauded the ensuing decline in pump prices, saying it would be “like a tax cut” for Americans.
Weeks later, the crisis remains a low priority for the president, who has continually expressed his satisfaction with cheap gasoline and whose agenda has been consumed by the coronavirus pandemic itself, according to people familiar with the situation.