It’s not crude to protect the American consumer

In the last three months crude oil has soared 18.6%, while the S&P 500 and the 10-year bond are flat.

But why is that the case? Please don’t give me the old “summer-driving season”.

The United States is fast becoming the largest producer of crude oil in the world, ahead of Saudi Arabia and Russia, according to the newest EIA report.

Yet the difference between European Brent Crude and West Texas Intermediate crude is only $3 a barrel. Surely that spread needs to be much wider given the Iranian sanctions.

While the White House is pressuring Saudi Arabia to make up the shortfall of Iranian production, it needs to get a handle on domestic production to curtail rampant price hikes, which amount to gouging for US suppliers, since they are not selling large quantities on the international market.

If the 1970’s and 1980’s were about OPEC dictating price and supply, the 21st century should be about our energy independence and a domestic price suiting that situation.

If American crude producers can survive on $50 a barrel, then why let crude trade here for $70 a barrel?

The higher price only emboldens countries that despise us to gather more profits in order to fund operations against us, while wiping out any monetary gains Americans might realize from slowly rising wages.


Banning the travel ban, not likely

I can’t say with certainty that the next gee-whiz tech company will not be founded here because of President Trump’s immigration ban, which was enacted over the weekend.

In the same breath I can’t say if another mass shooting was thwarted either.

What can be said again about President Trump, he doesn’t care about what opponents think. Whether that’s to his detriment is yet to be determined.

The Trump campaign’s promises of secure borders is being enacted, which seems to have surprised many.

I figure the many Americans are not used to having campaign promises fulfilled so quickly.

The travel ban from 7 countries —  Iraq, Syria, Iran, Libya, Somalia, Sudan and Yemen — bars these citizens from entering the U.S. for the next 90 days, less judicial review here in the US.

The latest government figures indicate that 109 foreign nationals were denied entry over the weekend. It is not said whether they were deported or held here.

Certainly the backlash of demonstrations from airports across the country to the broadcast of the SAG awards Sunday night, you would get the impression that tens of thousands of people were affected.

Trump’s presidential order is broader than the 6-month travel ban on Iraq signed by President Obama in 2011, and may be scaled back upon judicial review.

And so ended the first full week of the Trump presidency, what will this week bring? God only knows.