Comments from Kudlow
The hypocrisy is breathtaking.
The US spent 40 years browbeating OPEC for not producing at maximum levels and now it's begging to re-create the cartel. Meanwhile the NOPEC legislation remains in play in Congress.
Meanwhile, the WSJ reports that the White House has discussed a mandated shutdown of production in the Gulf of Mexico. Ostensibly this would be to prevent the spread of coronavirus on platforms but I think we all know the real reason.
All Gulf production is about 2 million barrels per day.
