PANews reported on March 14th that, according to Jinshi News, U.S. Interior Secretary Doug Bergham stated that the Trump administration had discussed curbing oilPANews reported on March 14th that, according to Jinshi News, U.S. Interior Secretary Doug Bergham stated that the Trump administration had discussed curbing oil
US Interior Secretary: The Trump administration discussed intervening in oil prices through crude oil futures, but it is unclear whether it has actually intervened.
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PANews reported on March 14th that, according to Jinshi News, U.S. Interior Secretary Doug Bergham stated that the Trump administration had discussed curbing oil prices through trading in the oil futures market. However, Bergham said he was unclear whether the U.S. had actually intervened in the market. Bergham stated on Saturday, "I must say, there have been discussions. There are many smart people in this administration—and many smart people in the energy trading market. Trying to manipulate and lower prices through intervention requires a huge amount of money. That's all I can say about that." The head of the company that regulates West Texas Intermediate crude oil futures trading warned that if the federal government were to begin trading derivatives to lower crude oil prices, it would be a "bible-level disaster."
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