Dozens of oil tankers float off the coast of Southern California as global lockdown sees demand for crude plummet

UK Daily Mail ^ | April 25, 2020 | James Gordon

[stuck_in_new_orleans]

Bottleneck better be cleared in the gulf by the time hurricane season starts

[central_va]

Why? It isn’t going to change anything as we are slowly weaning off imported oil to begin with and especially from the middle east where this thread was investigating.

You clearly have zero understanding of how tariffs work. Right now the oil patch needs protecting and a tariff would make up the difference between spot oil price and $50.00/bbl. A $30-$40/bbl would do it.

A tariff is nothing but an artificial means of increasing the price of oil. It forces us to use domestic oil before imported oil. It's just what the doctor ordered.

[Redwood71]

I have an excellent idea what a tariff is for, but in this case, it doesn’t apply. Our problem is not that we need to get oil, our problem is figuring out where to put what we have. We are not receiving oil because we need it, we are receiving oil because we have to based upon diplomatic commitments. Putting a cost on the sender to send us the commodity they need to sell so we can get our diplomatic desires accomplished, is counterproductive to what the process is for. We won’t be recouping from something we don’t need.

If you check the barrel amount figures I gave you, again, you’ll see we export approximately the same amount we import. It would be simpler, and cost effective, to just use the oil we sell, at most likely a better net cost, than buy outside oil and trade the basically same amount as we are doing right now. But as long as we have a diplomatic and financial commitment, it won’t happen. So all tariffs will do is drive the price of oil up that we could have purchased cheaper when they offset the tariff. Nothing is gained, and we just work at higher levels. And that is what got our economy into the tank starting in the early 90’s with the inflating of products, the printing of money devaluing the dollar, and the sales of needed products like housing at inflated prices so we didn’t get bang for the buck. We lose ground at cost and protecting people. Thus is not commerce, it is a tool for diplomacy.

I appreciate that you are trying to make a buck and protect the US, financially, but this particular process has nothing to do with that. It is to spend money for someone else. And without it, we have more problems overseas and we are back over there spending from another government fund and getting both them and us hurt.

rwood

[central_va]

Frankly you are hopeless idiot or have an unseen anti American agenda. And that is being kind.

A tariff on imported oil makes / forces / coerces ( what ever word you want to use ) us uses our domestic supply and would save the domestic oil industry from great harm and hardship. Go away you foolish person with an anti American agenda and try to learn something about economics.