Oil is fungible.
But we can guarantee a per bbl price for domestically produced oil.
Thus saving an industry and energy independence.
Worthy strategic and national security goals.
Much easier would be to impose a tariff on the imported oil. And this would bring $ to the budget, while the guarantee would do the reverse.
Some oil streams in Texas don’t have buyers over $2 bbl
Not if all the workers disappear and find new jobs to support their families. It will take months if not years to get qualified employees back in the field as many will not come back.