Left-Wing Fake News On Russia, Trump, and Oil Money - Granite Grok

Left-Wing Fake News On Russia, Trump, and Oil Money

bakken-oil-rig-north-dakota-continental-resources
Bakken Oil Rig – North Dakota


The left is cycling a narrative around social media suggesting that Russia helped Trump win because of oil money. Russia’s economy lives or dies on the stuff and the higher the price per barrel the better. So Trump and his oil buddies, at least according to this fake news story, are tit for tat behind Russian meddling to defeat Hillary.

The problem with that is this:

America’s private-sector shale industry was the direct and indisputable trigger for the global petroleum price collapse. Thousands of small and mid-sized companies — it was not “big oil” that created the shale revolution — added more oil (and natural gas) to global markets in a shorter period than at any time in the past half-century, anywhere.

American frackers came out of nowhere — i.e., they emerged out of private-sector innovation on private land, not from government subsidies and preferences — to go from near-zero revenues to $150 billion per year in sales in just a half dozen years or so. To put that in perspective, the global smartphone industry, which emerged around the same time, went from zero to $70 billion per year of sales over the same period.

Hillary promised to end shale oil as we know it.

[C]andidate Hillary Clinton made clear, repeatedly, her plans to throttle the shale industry when she said: “So by the time we get through all of my conditions, I do not think there will be many places in America where fracking will continue to take place.”

Hillary’s plan would drive oil prices up lining pockets in Russia, Saudi Arabia, and in the other OPEC nations, many of whom made donations to the Clinton Foundation and took her at her word when she said she’d kill their fossil fuel nemesis.

If Russia wants oil wealth, that’s the quickest way for them to get it.

Trump supports more fracking and more drilling.

You do the math.

 

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