Checks and Balance: Oil be back
President Trump scored a big diplomatic win by pushing the main oil producing countries to agree to cut output. A price war between Saudi Arabia and Russia, combined with the slump in demand caused by the coronavirus, had halved oil prices. Trump said the deal would save thousands of American energy jobs. But pushing for higher oil prices in an election year is a ploy more common in Caracas or Moscow than Washington DC. Has Donald Trump made America an energy superpower? How reliable is his bet on oil as an electoral strategy?
In this episode we assess Trump’s deal, trace the origins of America’s obsession with energy independence, and debate whether fossil fuels or climate consciousness will win more votes.
John Prideaux, The Economist’s US editor, hosts with Charlotte Howard, New York bureau chief, and Washington correspondent Jon Fasman.
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