Former President Donald Trump is irate that Americans are enjoying lower gas prices, claiming that the Organization of the Petroleum Exporting Countries (OPEC) is intentionally reducing oil prices to benefit Vice President Kamala Harris. Trump warned that Harris’s potential presidency could be a “disaster” for the U.S.
“OPEC NATIONS ARE GOING ALL OUT TO DRIVE DOWN OIL PRICES IN THE HOPE THAT CRAZY KAMALA HARRIS WILL WIN,” Trump declared on Truth Social. “THEN THEY WILL REALLY REAP THE REWARDS! SHE WILL BE A DISASTER FOR THE USA!”
Trump’s fury comes amid a notable dip in oil stocks, which some speculate is linked to the possibility of Harris taking a tougher stance on the oil and gas sector if she were to become the Democratic presidential nominee and win the election.
Currently, oil stocks are struggling after President Joe Biden announced on July 21 that he would not seek reelection and endorsed Harris as the leading Democratic candidate. Since Harris’s nomination, WTI Crude prices have fallen from $78.64 to $75.43, according to Benzinga Pro.
Harris’s potential presidency could bring a focus on climate policies, aiming to reduce carbon emissions and boost funding for renewable energy projects.
In a broader context, the U.S. has been producing record amounts of oil, averaging 12.9 million barrels per day in 2023, contributing to the drop in gas prices.
