Posted on 10/18/2016 7:54:30 PM PDT by panhandle67
CARLSBAD — Oil experts say America is under attack by Saudi Arabia and OPEC, but instead of bombs, the OPEC oil cartel is dropping millions of barrels of oil on the U.S. economy in a clear effort to undermine the nation’s oil producers and kill any chance of American energy independence.
The first to feel the flood of foreign oil into the U.S. are the independent oil producers, whose stripper wells in Texas alone account for 20 percent of the nation’s oil and gas production, said Judy Stark, executive vice president of the The Panhandle Producers & Royalty Owners Association.
(Excerpt) Read more at rdrnews.com ...
I suggest vote Trump, ‘cause what’s happening wouldn’t be if our government was working for us.
When the price goes too low, stop pumping when it goes back up open the spigot. OPEC liquidates all their resources at rock bottom prices, we only sell at higher ones.
We control the price.
It’s not that hard to figure out.
Well, I tanked half of my tactical Diesel reserve this Month. I’m quite flexible about topping off rest.
Set a floor price on OPEC imports at $35 per bbl.
No, it’s not a tax.
It’s a floor meaning OPEC will not be allowed to sell under $35 into US markets and neither will anyone else. But they can sell but not dump in a grab to take market share and cause Americans to go belly up.
At $35 to $50 oil, gas prices at the pump will continue to be great.
Yes, it’s protectionist. But the pendulum has swung too far against the USA. It’s time to protect American drillers and let them export.
Most American drillers and wildcatters are small plays by small companies of 15 to 49 people. It’s time to let these American risk takers get rich. Why not?
It’s an economic war now. Let Americans get rich.
We do not need foreign oil. Shut imports from our enemies off. We’ll be glad to pay a little more for domestic oil rather than financing Muslim terrorists.
Roswell? Just store the imported oil in Carlsbad Caverns. Plenty of room down there.
Roswell? Just store the imported oil in Carlsbad Caverns. Plenty of room down there.
Exactly. When the mid-east oil discoveries occurred in the early 1950’s, the oil companies approached Ike and told him that, for military reasons, we should not depend on foreign oil from such an unstable region. Ike bought the argument and oil import quotas and taxes were levied on imports. The mid-east response was the formation of OPEC.
If you buy into the military argument, we should have capped our wells, and bought every drop of super-cheap oil they would sell us at that cheaper price. Every American would have benefited from cheaper distillate fuel prices, lower trucking and distribution costs, plus increased reserves in the ground if needed later. Refining would still have taken place, but OPEC would have collapsed before it got started.
After we sucked their wells dry at reduced prices, we uncap ours and amble along. But, once again, we backed the wrong horse.
“Ike bought the argument and oil import quotas and taxes were levied on imports. The mid-east response was the formation of OPEC.”
Did not know that history.
We should re-instate the Ike-tariffs.
I like Ike.
We control the price.
Maybe we "control the price"...but on-again-off-again is a tough environment in which to keep a company profitable and running.
and Obama is buying for the oil reserve , the oil that no one knows where it’s coming from ?
We can’t just cap our wells. Minus the issues of re-establishing production after abandonment, companies need revenues. We are not state-run oil companies.
Which is it?
“Maybe we “control the price”...but on-again-off-again is a tough environment in which to keep a company profitable and running. “
Totally agree. It looks great on paper.
You’d need a concerted effort with an American “OPEC” of oil companies, Harvard/Yale/MIT etc, with the blessings of the fedgov or some such.
Not really. The tariffs only benefit the collector of the tariff...the gov't. The consumer still pays the higher price and the tariffs may or may not increase price enough to induce domestic production. Either way, the consumer pays the bill.
The wells and the fields would not be abandoned. Actually, only a small portion of oil revenues comes from drilling/exploration. Pipeline, refining, and distribution are major sources of income and those would still be needed, since oil is imported as crude, not distillate fuels.
I kind of knew we don’t have state-run oil companies, but we do have state-run oil leases, both on-shore and off-shore.
Folks, this is propaganda.
the only thing TIRPO wants is a higher price for
crude oil.
they just don’t want to be too obvious
about that.
Not really. The tariffs only benefit the collector of the tariff...the gov’t. The consumer still pays the higher price and the tariffs may or may not increase price enough to induce domestic production. Either way, the consumer pays the bill.”
Yes really. Tariffs protect domestic production. If US production is run out of business then OPEC raises prices well beyond the tariffed price and then we pay higher prices AND the money leaves the country and goes to our enemies.
Their dropping barrels of oil on us???
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