Yes very good points indeed. And unintended consequences I had not thought of.
But sill, it seems to me that we are playing fair and OPEC is not.
And there are times when our government SHOULD step in to help private business. For example, should we allow China to manufacture and sell knock-off US goods with US brand names without regard for patents?
I’m all for limited and much smaller government, but the government does indeed play a role in protecting the interests of US companies to ensure a level playing field.
Do you understand the price is dropping due to reductions in the global demand growth rate (still growing, just slower) while the US and Canada is increasing production at a faster rate, while OPEC is basically holding steady.
This is actually OPEC not being effective and the market responding.
Protecting Patents, upholding our laws is hardly the same case.
Let us look at a better example, more in line with your suggestion.
Sugar Tariffs -—> High Fructose Corn Syrup
Do you want more ethanol in your gasoline? What you suggest helps support it.
We do not want the government to artificially raise prices above the global market. We do not want the government to select winners and losers in industry.