Editor's note: This article was originally published on September 1, 2019 by Menzie Chinn here.
Today, we're fortunate to have Willem Thorbecke, Senior Fellow at Japan's Research Institute of Economy, Trade and Industry (RIETI) as a guest contributor. The views expressed represent those of the author himself, and do not necessarily represent those of RIETI, or any other institutions the author is affiliated with.
Last year Donald Trump tweeted "Oil prices are too high, OPEC is at it again. Not good!" President Trump's tweet reflects the conventional wisdom that higher oil