Is Trump reaping the benefits of Obama’s energy policies?

Pic: ROBYN BECK/AFP/Getty Images.

Well, it was a delayed reaction, but crude certainly came to the party yesterday. Interestingly crude and the US dollar are tracking each other at the moment, something that has only happened 11 times in the last 35 years, interesting indeed.

The politics of Trump’s decision plays exactly into his campaign mantra of ‘Make America Great again’. US crude production last night hit 10.7mn bpd and they are edging ever closer to overtaking Russia and becoming the world’s number 1 crude oil producer, something we said back in November would happen within five years.

With this increasing dominance of the US oil producers since their phoenix like revival post the 2014 production war and very healthy US economy, we are seeing (like many a Republican administration) the POTUS enjoying the benefits of policies put in place by the previous government.

We’re sure many people would have thought that Saudi Arabia will fill the gap left by Iran, but the US certainly now have a big opportunity to front run OPEC.

Geopolitically Israel and Iran have put on the boxing gloves, and currently trading blows in the first round. And there we were us thinking things would calm down now that North Korea looks much more like a benign dictatorship.