Posted on 05/10/2016 5:00:14 PM PDT by panhandle67
The Panhandle Producers and Royalty Owners Association in partnership with other oil and natural gas supporters launched a grassroots campaign this week aimed at limiting foreign imports of oil. The plan, which was unveiled at forums in Amarillo, Texas, and Artesia, N.M., calls for import quotas that would be established during the first 90 days of the country’s next President’s administration. Mexican and Canadian imports would be exempt.
“American oil is competing against a cartel of government operators which has a stated initiative of driving an American industry out of business,” said Tom Cambridge, a Panhandle producer and campaign supporter.
The plan, labeled the Panhandle Import Reduction Initiative, also calls for quotas on heavy crude oil that would be phased in over a set amount of time and a 10% cap on imports.
(Excerpt) Read more at oilmanmagazine.com ...
Now, as OPEC members have again refused to freeze production, domestic producers are searching for strategies to regain market share.
“This is very appropriate, as yesterday, OPEC and Russia and various countries met and decided they weren’t going to freeze oil and in fact, OPEC said they will increase production again,” Cambridge said on April 18. “This will drive the price down to $26 (a barrel) again. This is not a good thing for our country.”
Dr. Daniel Fine, an expert in energy futures and economics, has been tasked by the producer group to present the campaign details to lawmakers. Fine, who is an energy advisor to New Mexico Gov. Susanna Martinez, is the Associate Director of the Center for Energy Policy at New Mexico Tech. During a legislative hearing last fall in New Mexico, Dr. Fine testified that areas of increased production in the U.S., including the Permian Basin, are now “the target of an oil price war between OPEC and Non-OPEC oil supply.”
“What happened at OPEC gives us today the only going strategy to deal with the oversupply (of oil),” Fine said. “We have drawn the line in the sand and said ‘you have gone too far; we will not buy your oil.’”
Let’s hear a cheer for higher prices for heating oil, vehicle fuel, and any goods shipped using vehicle fuel (i.e., everything)! Yay!
Literally one of the dumbest ideas I've ever heard.
If you don't want us to buy imported oil, you need to produce 100% of the oil we consume.
“We have drawn the line in the sand and said ‘you have gone too far; we will not buy your oil.’”
Excellent idea. Also, stop consuming oil until we produce more than 100% of our oil needs.
I’m still waiting for my check from you for buying your gas at $3.75 pg.
Oil is a global commodity. If you ignore the
market manipulation, Saudi Arabia is the cheapest oil
to produce, therefore the cheapest oil. The Americas have more oil than the rest of the world combined, but it costs a lot to get it to market. I’d rather the market adjust, suck Russia, and the middle east dry of the cheap reserves, and invest in the Americas resources for our kids future.
Cost to produce a barrel of oil in Saudi Arabia and Kuwait about 10 bucks a barrel. US is about 36 and Canada 41.
Buy American! No imports! Protect jobs! FreeTraitors! Oh this makes gasoline more expensive...never mind. Greedy oil companies! Use their oil first! Global commodity!
Cost for Venezuela is $23. I assume you used rounded CNN numbers.
All those America’s prices keep our fuel well below $2 per gallon. Why is $40 per barrel getting me $3 per gallon fuel?
In America it is called EPA and the Democrat party.
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