President Donald Trump called out OPEC on the world stage and helped ease the explosive rally in oil. The President, in a speech before the United Nations, said “OPEC and OPEC nations, are, as usual, ripping off the rest of the world, and I don’t like it. Nobody should like it. We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices. Not good.” This speech came as reports surfaced that India has agreed to go cold turkey and get off Iranian oil going to zero barrels when U.S. sanction go into effect in November. That very bullish development was offset somewhat by a report that pipeline company Plains All American is planning to open a 90,000 barrel a day crude oil pipeline expansion by the end of October, 6 months ahead of schedule and just in time to try to offset lost barrels from Iranian sanctions.
The President stole the show at the UN. While touting his accomplishments on the economy, he got laughed at but as most Americans’ that are in the stock market or now have a job know, the American People are crying all the way to the bank. He pointed out the evils of the rising tide of socialism.
He called out Iran and laid out the reasons for the Sanctions by saying that “Iran’s leaders sow chaos, death, and destruction. They do not respect their neighbors or borders, or the sovereign rights of nations. Instead, Iran’s leaders plunder the nation’s resources to enrich themselves and to spread mayhem across the Middle East and far beyond. The Iranian people are rightly outraged that their leaders have embezzled billions of dollars from Iran’s treasury, seized valuable portions of the economy, and looted the people’s religious endowments, all to line their own pockets and send their proxies to wage war.”
He called out the inherent evils of socialism, especially as related to Venezuela’s sad collapses. Trump said that “Currently, we are witnessing a human tragedy, as an example, in Venezuela. More than 2 million people have fled the anguish inflicted by the socialist Maduro regime and its Cuban sponsors. Not long ago, Venezuela was one of the richest countries on Earth. Today, socialism has bankrupted the oil-rich nation and driven its people into abject poverty. Virtually everywhere socialism or communism has been tried, it has produced suffering, corruption, and decay. Socialism’s thirst for power leads to expansion, incursion, and oppression. All nations of the world should resist socialism and the misery that it brings to everyone. In that spirit, we ask the nations gathered here to join us in calling for the restoration of democracy in Venezuela. Today, we are announcing additional sanctions against the repressive regime, targeting Maduro’s inner circle and close advisors.”
