Posted on 05/18/2016 6:05:22 PM PDT by panhandle67
Some Panhandle producers are announcing a proposal to try to limit oil imports to attempt to boost the American oil industry. So, how much are we importing now and why, if we can produce all we need domestically?
Dr. Daniel Fine, associate director for New Mexico Energy Policy, is helping lead the effort and recently spoke with KXDJ’s Chris Samples. “How much? It is increasing,” said Dr. Fine.
(Excerpt) Read more at highplainsobserverperryton.com ...
Dr. Fine said the hope is to get the next president to stop the flow. "It is a grassroots effort and has nothing to do with the oil and gas industry in the United States. Much of the support is coming from communities, individuals, field workers, service companies, and more. As these communities suffer a bust, they are activated to join such an initiative," he said.
The target is to reach out to the next president in February or March of 2017 to request an Eisenhower Proclamation. Dr. Fine explained, "This is what it was, and it is in the executive office that a proclamation can be issued. To follow the Eisenhower example and request that of the new president. It sets up almost what Eisenhower did with his council. A ten or twelve percent limitation on import of foreign oil. Mexico and Canada are exempt."
See more about the plan to limit imports by clicking here.
You want to sell more awl?
Produce it more cheaply!
Welcome to FR, BTW...
Limiting imports, even banning them would shoot the price of oil up again but as the frack wells come back on line and people drive less because of the higher cost the price will drop and drop some more.
Sad to see the oil producers take such a strong stance against free markets. Reminds me of the taxi cartel which wants cities to ban Uber and Lyft. They never give their true anti-competitive reasons. They always try to legislate their competition away through some other more “palatable” means.
Opec is pumping huge amounts of oil in an attempt to crush our oil producers.
The moon cult has us on a pinch collar it must stop
“Sad to see the oil producers take such a strong stance against free markets.”
My impression from the article was it is not “oil producers” lobbying against imports; it is people in “oil producing states” who believe that they have some kind of claim on the oil produced within their states and that this kind of move will preserve their jobs.
In the Permian we are filling our tanks with Saudi gas while whole towns and families are being destroyed. This is why the grassroots are important here! How can DC do anything though they keep promising us millions of new jobs . You want to stop this destruction RIGHT NOW of American oil and jobs? Oil import restrictions are your best bet!
Perryton is a city in the Texas panhanle.
You’ll be up against a lot of bankers and policymakers. They see such a move as the beginning of the end of the world. It’s also a security issue (military pursuit scenarios and the like).
Fracking plays are short and will continue to get more expensive. There’s no magic, new technology in sight for pulling it out cheap and making profits.
Look at the production-demand reports. Higher prices are just ahead. Within five years, there will most likely be shortage crises.
Free markets are fine but our market is not free. Massive and continuous assaults on the energy industry by the EPA regulating them to death, Presidential interference with the industry by blocking the Keystone pipeline, etc. The list goes on and on.
Hypocrisy.
If you guys cheer Trump saying he wants to put a 45% tax on China, then tell American oil men to work cheaper, well somebody is mixed up. All the oil men are saying is the same thing Trump has been saying forever.
American jobs for America.
I’m not “FReepers” I’m me. I have an opinion.
By all means disagree with me. Me.
We just started exporting US oil. Would we now have to reduce\limit that ?
Saudi Arabia has a cost of about $6 to extract a barrel of oil.
The United States has a cost of about $35.
In Saudi Arabia, oil is so easy to extract it is often described as sticking a straw in the sand and out oozes oil.
In the United States, the oil is harder to get to and requires more labor and specialized contractors.
The good news is the United States has ten times more oil than Saudi Arabia.
The bad news is that Saudi Arabia wants to bankrupt the oil producers in the United States.
The reality is that if America is to achieve energy independence in terms of oil, it will need to protect Americans and the American oil industry.
“Energy independence” isn’t as important as having cheap energy. We can be independent and be paying high prices. Not so good. Free markets and free trade mean increased competition, better quality and lower prices. Protectionism just props up one favorite son and special snowflake on the backs of everyone else. It’s no different than a tax. It’s a terrible, anti-freedom policy.
Just tariff every barrel of imported oil $30.
Or $40.
Cheap oil results in bankrupt oil producers in the United States. Without oil drilling, there is no opportunity for energy independent.
As long as Saudi Arabia has the competitive cost advantage in drilling and producing, they will play boom and bust games with the domestic oil industry. As soon as they roll over the US domestic oil producers, they will once again control the price of oil and the price will shoot right back up. Investors will grow tired of getting into oil plays knowing that the Saudis will lower the boom again.
The solution is to put a $35 per barrel ‘floor’ on imports. That will enable domestic oil producers to stay in business and will still result in cheap products at the pump.
Protectionism was what the Founders of this country supported and fought for. Protectionism is not a dirty word. Protectionism is 100% American because it puts America and Americans first.
No, it puts bureaucrats in ivory towers in charge of running a command economy from Washington D.C.
Americans can figure out what they want to buy and sell and for how much without big brother dictating the terms to them and fixing prices. I trust Americans to make those decisions more than I trust a bureaucrat or a politician.
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