A Difference of $70B
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If nothing else, the arthur does a good job of making assumptions to a point where they fit his scenario.
Even before Biden took office, China and other buyers began to import more oil from Iran, anticipating the loosening of U.S. restrictions. Biden didn’t repeal the laws that impose sanctions on Iran’s oil industry, but his rhetoric still brought a windfall for Iran as buyers started to “capitalize on that sentiment in the market,” Ben Taleblu said.
LOL. Hard hitting research! China and others (DPRK) have been buying oil from Iran. I have not seen anything that this has increased or decreased. And based on China's (and others) actions after the invasion of Ukraine and their buying oil from Russia, I don't think Chinas actions would have been any different, regardless of the US president.
....it stands to reason that the price of oil would have remained approximately $55 per barrel had Trump remained in office in 2021.
Taking away the pandemic, when was oil at USD$55 during President Trump term?
