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<blockquote data-quote="RDFF" data-source="post: 1660750" data-attributes="member: 39018"><p>Gas prices through Obama's term of service, 2008-2016, overall were significantly higher than during the Trump administration. The steep drop in 2014 came substantially due to the Baaken oil reserves, which besides crude oil, also yields a huge supply of natural gas, which incentivized aggressive conversion of oil and coal power generation to cheaper and cleaner natural gas production. All of these factors combined resulted in a strong supply of oil worldwide, with the U.S. becoming a net oil exporter, rather than a net importer.</p><p></p><p><a href="https://blogs.worldbank.org/developmenttalk/what-triggered-oil-price-plunge-2014-2016-and-why-it-failed-deliver-economic-impetus-eight-charts#:~:text=The%20initial%20drop%20in%20oil%20prices%20from%20mid-2014,as%20well,%20particularly%20from%20mid-2015%20to%20early%202016." target="_blank">What triggered the oil price plunge of 2014-2016 and why it failed to deliver an economic impetus in eight charts (worldbank.org)</a></p><p></p><p>[ATTACH=full]1781[/ATTACH]</p></blockquote><p></p>
[QUOTE="RDFF, post: 1660750, member: 39018"] Gas prices through Obama's term of service, 2008-2016, overall were significantly higher than during the Trump administration. The steep drop in 2014 came substantially due to the Baaken oil reserves, which besides crude oil, also yields a huge supply of natural gas, which incentivized aggressive conversion of oil and coal power generation to cheaper and cleaner natural gas production. All of these factors combined resulted in a strong supply of oil worldwide, with the U.S. becoming a net oil exporter, rather than a net importer. [URL='https://blogs.worldbank.org/developmenttalk/what-triggered-oil-price-plunge-2014-2016-and-why-it-failed-deliver-economic-impetus-eight-charts#:~:text=The%20initial%20drop%20in%20oil%20prices%20from%20mid-2014,as%20well,%20particularly%20from%20mid-2015%20to%20early%202016.']What triggered the oil price plunge of 2014-2016 and why it failed to deliver an economic impetus in eight charts (worldbank.org)[/URL] [ATTACH type="full" alt="1611323928025.png"]1781[/ATTACH] [/QUOTE]
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