I like low gas prices as much as anyone else, but let those saying Americans shouldn't favor import limits answer this: Where will American gas prices be after the cartel drives American oil companies out of business, if it succeeds at that endeavor? I'm guessing somewhere close to $10/gal as Europeans used to pay - or worse. Our gas bill could go from a couple of thousand a year for individuals to ten thousand a year, perhaps a couple more trillion (that's just a top-of-the-head estimate) siphoned out of our economy by those SOBs in the Middle East.
Once prices go back up (and they will), our companies will go back to drilling here. Or new companies to replace the old ones. It’s been this way in the oil patch for a long, long time.
The Saudis want to crush the Frackers so we again depend on Saudi and Iranian oil.
$50 PPB oil is a fair price that lets us get out of the middle east, and have oil independence. No longer do we send our boys to die so the Saudis can gouge us with 100 PPB oil They even make us pay them rent while we protect them. Crazy.
The Saudis don’t want the 28 pages of the 911 report released.
I am tired of having these nasty Sheiks pull our chain.
Self sufficient should be the goal which means no imports and no exports. Oil companies don't want to live with that, though, I assure you. They have all sorts of arguments as to why they should export and spent far more on getting that through Congress than they ever have on fighting the stupid EPA regs that keep refineries and pipelines from being built. A couple of weeks before they got the right to export, in fact, they signed onto an international environmental line of crap they'd been fighting for decades. Funny how that works, one hand washing the other.
When the oil companies put America First by fighting the absurd regulations and environmental lies, then we can get somewhere. Until then, they're working towards what's best for them, a protected market here that their pals in government regulate enough to ensure them a profit and a wide open market overseas where they can do whatever sort of deal makes them the most money.
Our oil for us, that should be the underlying principle. Anything else is just a new angle on what's best for the producers.
JMHo
” I’m guessing somewhere close to $10/gal as Europeans used to pay - or worse”
Actually, European gas is artificially high because of taxes tagged on. There’s no economic or fiscal reason for their gas to be any higher than ours. Reference a map and it will become evident. Middle East oil is .just across the Mediterranean. Then, there’s Russis, Ukraine, N. sea, Norway, etc. plenty of sources close at hand. Conclusion; high price of European gas is self imposed .....