America has become an “oil-producing superpower” under President Donald Trump’s leadership, and that shift will help lower gas prices in the long term, White House Council of Economic Advisers Chairman Christopher Phelan told Breitbart News on Tuesday.
\n\nPhelan’s remarks came during the “State of the Economy” policy discussion with Breitbart Washington Bureau Chief Matthew Boyle.
\n\n“First thing I want to say is the doom and gloomers were wrong. People that were predicting that, not us, the particular Council of Economic Advisors was not predicting that oil would go to $200 a barrel. So they were wrong. I do think that when the current conflict ends [in Iran] that we will see world oil prices go down,” he said:
\n\nI think one of the big differences that we really need to understand is when I was a teenager during 1979 oil crisis, what I did is I grabbed cars from around the neighborhood and waited in line for four hours for them. I got paid to wait in line on odd or even days to fill their car, and then I would go get another car from another neighbor and do that.
\n\nWe were an oil-importing nation, big time. Right now…
Original source: https://www.breitbart.com/economy/
