And one form comes from President Trumps elimination of rules governing the oil and gas industry. Trump's FAKE NEWS is this will unleash the industry to drill more, produce more and sell more, but it won't happen on his watch. The increase in drilling and production happened on President Obama's watch and vaulted the United States as the top oil producer in the world. And it happened while regulations were in effect.
But guess what? The U.S. oil industry has been laying off people for the last two years because of an over supply on the market, economic forces and the production and use of other energy sources. In fact when the over supply came about the price of a barrel of oil had been selling in the $90 range for several years and dropped to the mid $40 range the last few years. Recently the price of a barrel of oil has been going up and the OPEC producers have agreed to cut their production.
The industry had been making tons of money on those record high prices. So much so that BP was able to pay billions of dollars to those harmed in their gulf of Mexico blow out. That was a time of FAKE NEWS when many of Louisiana's representatives in congress opposed the President's moratorium and gave out FAKE NEWS as to how the industry would be damaged. The Bush-Cheney administration was the author of FAKE NEWS concerning the run up to war in Iraq over WMD that did not exist.
And now the present author again of FAKE NEWS is President Trump and several members of his administration every time they get caught in their own lies and misinformation. The news media now realizes how Trump and his people have used FAKE NEWS by the news media is a blind recognition of his own practice. And he showed his worst side on Thursday's rambling press conference when he tried to pass the buck of FAKE NEWS and said he inherited a mess from the Obama administration. He then went on a rant of blame everyone but himself for the trouble caused by his lack of political understanding and reckless behavior. His press conference was a troubling episode for our country and confirmed what Hillary Clinton said all along, that Trump did not have the temperament to be President. And to think our young children have to be exposed to a President that has stooped so low.
The regression on Trump's watch continues and there is no end in sight. The American people deserve better.
This commentary written by Joe Lorio
