He sold the oil to keep the price of oil down for the midterms. Only thing he cares about is staying in power. If it wasn't for Manchin, more trillions of debt that we don't have would have been spent which would have only added to inflation and made our current situation much worse...eventually leading to an even bigger recession later.
I think whatever recession we experience, if we even go through one, will be exceedingly brief and mild. By decision day 2024 SPX will be in new ATH territory.
If that's all he truly cares about then I sure hope he doesn't try to overthrow the government by sending an angry mob to the capital to prevent the certification of the vote if he loses his bid for a second term. That would be scary and unAmerican.
Had Trump had its way the SPR would have been filled at $25 One thing President Trump did propose was to top off the SPR when the Covid-19 pandemic was crushing oil demand. In March 2020 President Trump directed the Department of Energy to “fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.”