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'Oil should be US$ 40-50 not US$ 150'
Fri, 15 Apr Pre-Open

A lot of experts are of the view that crude oil's recent pullback is just an aberration. Hence it is only a matter of time before it tests its all time high as per them. In fact, they assert that US$ 200 per barrel oil is well within sights.

However, if you are a certain Donald Trump, this is all humbug to you. One of America's richest persons has taken an aim at the famous OPEC (Organisation of Petroleum Exporting Countries) in a recent interview. He argued that if he becomes the US President he will tell OPEC that oil is certainly not going to US$ 150 per barrel. Infact, it should be US$ 40 to $ 50 a barrel.

Mr Trump did not stop here. He had a solution to all the problems facing the US economy and pretty radical ones at that. He has been a long time critic of the Chinese policy of keeping Yuan pegged to the dollar. And he yet again lashed out at the Chinese policymakers going as far as to mention that he would put a 25% tax on all goods coming from China without any hesitation.

Military expenditure is another sore point for the US. And Mr Trump had yet another radical solution to actually make US military expeditions profitable rather than cost the exchequer enormously. He said that the US should actually charge countries like South Korea and other Arab nations for protecting their national interests.

"We go over there, we protect them, we protect them with our ships ... Did anyone pay us for this? No! So, what is happening is mind-boggling," he is believed to have said.

One is of course tempted to dismiss these suggestions as publicity seeking stunts of a flashy billionaire. But it should be pertinent to add that Mr Trump is harbouring some serious thoughts of running for the US Presidency!

Infact, in a recent poll he emerged as the favourite amongst all Republican nominees in the quest to evict Barack Obama from the White House.

While Mr Trump's ideas do indeed sound radical, we believe that there is a grain of truth in some of them. But whether the US policymakers do have the necessary wherewithal to implement those, with or without Donald Trump, remains to be seen.

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Feb 19, 2018 (Close)