The United States President Donald Trump thanked himself for the current low oil prices in a tweet posted on Sunday at the end of the Thanksgiving holiday weekend. He also compared the low oil prices to a big tax cut in his tweet.
“So great that oil prices are falling (thank you, President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)!” Trump’s tweet read.
As reported by CNBC, oil prices dropped to below $55 last week. Notably, according to the International Energy Agency, the oil process are driving down as oil supplies are already huge and production from Russia, Saudi Arabia, and the U.S. is at record levels. Another reason could be the Trump administration’s decision to extend waivers to Iran on oil exports despite reimposing sanctions on the country as the U.S. backs out of an Obama-era deal on its nuclear program, reported USA Today.
Trump wasted no time to praise Saudi Arabia on Twitter for the low oil prices and also compared the low prices to a big tax cut for the U.S. He implored Saudi Arabia to go lower in terms of oil prices.
“Thank you to Saudi Arabia, but let’s go lower!” he wrote in a tweet on Tuesday, calling falling prices “a big Tax Cut for America and the World.”
Last week, Trump announced his support for Crown Prince Mohammed bin Salman despite the U.S. intelligence reports linking Saudi journalist Jamal Khashoggi’s murder with him.
He announced that he did not intend to impose sanctions on Saudi Arabia for the murder of Khashoggi as he feels Prince Mohammad bin Salman may not have any connection with the planning or execution of Mr. Khashoggi’s murder as he has repeatedly denied having any knowledge about the matter.