We are not. Do you believe they are not charging the most they can get for their product and still sell what we produce?
Just like the Arabs did in the past.
By have a huge share of the market (which we don't) AND by holding back product and not selling it, OPEC drove prices up. Those refineries need to keep running because they don't produce a single product. Gasoline and Diesel are the primary drivers for the flow rate. Much of what we are selling are effectively "leftovers" of lower value. For example Petroleum Coke is often used for a coal substitute, raise the price above that and they just use coal.
we deal with unfair international competition all the time...that makes us suckers. It should be a two way street.
Selling a relatively small amount of globally-produced fungible-commodities and thinking you can dictate price is naive.
I never suggested a subsidy, only a tax incentive.
So you don't consider the past ethanol tax credit per gallon a subsidy? I do. And what you suggest, giving special taxes to selected products is the government choosing the winners and losers. You support the wind tax credit as well?
The government wouldn't be doing the selecting...the companies desiring the tax break would be self-selecting.
WHAT??? The government hands out tax credits on selected products and you think they didn't select which products get them and which don't? You want special tax credits to companies that export products that are not given to those that only produce domestically?
providing needed global commodities in exchange for $2.00 gas
You should try a little math for the volumes you are talking about. Small increase to small volumes that are priced relatively lower are not going to provide large decreases to large volumes of more expensive products.
Actually I do differentiate between subsidies and tax breaks.
First of all, as the shining beacon of economic freedom, the US shouldn’t even have a corporate income tax, since only the consumer winds up paying the tax anyway.
But if the government is directly giving money to someone, like medical welfare, EBTs, section 8 housing, BAILING OUT AN INDUSTRY...that’s a subsidy.
I heard of a report yesterday that indicated that Americans are essentially at the same level of income/cost of living, as they were 15 years ago....regardless of sex or income status.
But back then, fuel costs and taxes didn’t eat up large chunks of household income.
No, the whole ethanol thing is a cluster, and so is wind. The ethanol debacle did nothing good for consumers, rather it harmed them and p!$$ed them off. Both are unsustainable without the "subsidy" Gasoline, however, is not. People continue to buy it, but use less of it...or, if they are transporting goods, they build fuel costs into the wholesale prices and pass them along to consumers.
If it could be so structured, cheap gas and diesel would benefit every American.