Trump’s “Plan” To Lower Prices Just Blew Up In His Face

Donald Trump has been telling us for months that the best way to lower costs for American consumers was to produce as much oil and fossil fuel as possible. That plan wasn’t going to work because gas prices weren’t driving up prices to begin with, but now even that braindead idea has hit a major snag. Oil producers and fracking companies both in the US and abroad are saying that they aren’t going to engage in more drilling, so Trump’s dream of flooding us with fossil fuels is over before it began. Ring of Fire’s Farron Cousins explains what happened.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Donald Trump has been telling us for months that the only plan, he actually has to lower prices for consumers on pretty much everything. Uh, a plan that, by the way, wouldn't even work if he were able to do it. But what he's told us is the gas prices are too high, oil prices are too high. Energy prices all across the board he says are just too high. And that, of course, he claims is why you're paying more for things at the grocery store. 'cause gosh darn it, it costs so much money to drive them in there. Now that's 100% not true. And if he were to unleash all the drilling in the United States, it would do nothing at all to reduce the prices that you're paying at the grocery store or anywhere else. But he insists that that is what is gonna happen. And unfortunately for him, he's now being told by the very people who produce those fossil fuels that, uh, dude, it ain't gonna happen.

In fact, not only is your plan stupid, but we're not going to increase drilling. Both Saudi Arabia and fracking companies here in the United States have informed the Trump administration. We are not doing that. And the reason is actually very selfish. Um, we wanna make more money, and if we put more oil out there, lower the price of it, we actually make less money. The International Monetary Fund, uh, has said that in order for Saudi Arabia to keep a balanced budget in their country, they need oil to be at $90 per barrel, which is what it was a few years ago, back when gas prices had hit roughly, you know, $5 a gallon. But right now they are at, uh, what is it, $72 a barrel. 72. So Saudi Arabia already is running in the red. They need prices of oil to go up, but if they were to increase production, increase what's out there on the market that's gonna drive prices down.

So one of the biggest oil producers on the planet, the country that basically controls opec, which sets oil prices, is telling us we're not gonna do it. If anything, we need prices to increase. As for the frackers here in the United States, which Donald Trump says he's going to unleash the frackers, um, they're also telling him no. You see, five years ago, back in 2020, the fracking industry, while Trump was president, had been unleashed on America. And what happened was that they produced so much, there was a glut. And that glut resulted in a bust of the industry where countless

Fracking companies actually had to file for bankruptcy and totally disappeared from existence. They literally fracked their own company to death because Donald Trump told us we could. And then, oops, we didn't understand basic economics about supply and demand. We thought if we just had the supply, the demand would materialize, but it didn't. And so now five years later, these companies have finally learned a lesson and they're like, yeah, we're not gonna do that to ourselves again. We're gonna keep production what it is Now, you know, your policies be damned, but thank you, by the way, for undoing all those regulations that caused us to have to be safer and not poison communities. That's certainly helpful. But we're not gonna do what you're telling us to do because it's not financially viable for us. So the one idea Trump had to lower prices that wouldn't have even lowered prices is now in the toilet. So the big question is, what's he got up his sleeve now? Right? They're telling you they're not gonna do it. So what are you gonna do, Donald, to lower those prices for all those people who put you back into office? I know you've gotta have a plan B, right? It'd be stupid to put all your eggs in one basket, but I'm pretty sure that is exactly what you've done.