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The PIRI founders further stated in the letter “Following the Presidential Memorandum on the case for steel against Chinese export practices that you signed, PIRI further calls for an immediate Investigation by the Department of Commerce of Saudi Arabia and OPEC abuse between August 2014 and March 2016 of the American oil industry by expanding production to lower world oil prices to destabilize and cause hardships to American producers mainly of light tight oil (shale oil). This was an announced effort to undermine and shut-down producers with higher costs of production. According to one estimate some 150 US companies filed bankruptcy and $150 billion in capital outlay postponed or cancelled. More than 300,000 US industry-related jobs were lost.”

Mr. President, American superiority in energy security means self-sufficiency: Throwing off these trade shackles then is the fight for fair trade in Steel and Aluminum, we must prevail in the fight for US oil producers too.”

1 posted on 05/27/2017 10:34:20 PM PDT by brownwill6767
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To: brownwill6767

You post essentially the same thing just moments apart.

For your own edification perhaps you ought to check out just how much oil we import since the shale oil revolution


2 posted on 05/27/2017 11:33:26 PM PDT by Nifster (I see puppy dogs in the clouds)
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To: brownwill6767

Protectionism is a great political idea - until EVERY industry in your country begins to ask for protection from competitors.

After that, prices and inflation surge.


3 posted on 05/27/2017 11:33:36 PM PDT by zeestephen
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To: brownwill6767

Oil does NOT need to be protected. It is not something that will go away if we don’t raise the price to American consumers. Americans are the best most efficient producers of oil in the world. Americans will continue to progressively reduce the cost of extracting the oil and continue to raise the estimates of recoverable oil in the ground.It is what has happened. It is what is happening. It is what will happen. Protecting the industry now will reduce the drive to greater efficiency and drain American consumers further. Yall Mercantilist tariff freaks will complain right along with the rest of us when we have to pay 50% more for our gasoline and more for our groceries and everything else because we put tariffs on foreign oil, tariffs that actually raise the world price of oil and push more money to the jihadists.


7 posted on 05/28/2017 5:18:16 AM PDT by arthurus
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To: brownwill6767

Quit abusing the frontpage sidebar.


14 posted on 05/28/2017 12:26:31 PM PDT by Admin Moderator
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