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.
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.
We just started exporting US oil. Would we now have to reduce\limit that ?
Just tariff every barrel of imported oil $30.
Or $40.
Oil imports should have been stopped 2 years ago. Fracking and other oil recovery methods, have made the U.S. completely independent as to oil consumption. The pipeline controversy would merely provide MANY high paying jobs, and allow Canada to export oil safely and at a profit...we don’t need it.
My first thought is why not a tariff on imported oil? Simple, easy elegant solution.
Limit oil imports! Limit all imports. USG is supposed to be _for_ We The People, USA.