CL Traders - Should we worry about this?

https://edition.cnn.com/2025/01/06/business/biden-offshore-drilling-ban-trump/index.html

Do they want to start the crash?

 

Crash?

 

There is a conspiratorial theory going on that markets are going to crash to make Trump look horrible in front of the world. And Democrats are going to do whatever they can to make it happen.

It might be just nonsense spread through Reddit and X, but we have this news today out of nowhere.
Why would they ban drilling?

 

I thought you were referring to the oil market crashing from such a move, since you asked if CL trader should be worried. A ban on drilling would have the opposite effect, no?

 

That's a good point, but it got a bit of a hit when the news came out.

Times are CET

 

Isn't that 9am EST? That's the start of RTH. It's almost always a bit volatile just then.

 

Nonsense. Usual politics. Be afraid, very afraid of the big bad scary, scary Dems.

As the article itself says:-

"Despite a friendly posture towards the oil and gas industry, Trump also moved to ban offshore drilling while president. After proposing a major expansion in offshore drilling early in his first term, Trump in 2020 extended a ban on future oil drilling in the Eastern Gulf and expanded it to include the Atlantic coasts of three states: Florida, Georgia and South Carolina."

The world's oceans provide way more economic benefit (food sources) than oil ever could.

 

oil shot up since last week, probably because of upcoming snowstorms. but surprisingly gas price is stable. global demand is not here unless texas f*ked up again on their electric grids.

 

In a few days time, President Trump can press the button

DRILL!!!! DRILL!!!!! DRILL!!!!!!!!

on the offshore rigs.

 

A conspiracy theory? Isnt that what happened during Covid? Democrat governors shut down their states to cause as much pain as possible.