“Maybe the U.S. should now be chairman of OPEC.”
We should put tariffs on all OPEC oil.
I thought so too, but (former) FReeper thackney (sp?) modified my thinking. It seems that Houston’s refineries are optimized for Saudi oil - hence, those refineries are of more economic utility processing Saudi oil than they are when processing shale oil. That makes discouraging import of Saudi oil somewhat of a foot-shooting exercise.It is perhaps more clear that we should drain the Strategic Petroleum Reserve (since it’s a lot less “strategic” now), selling it now at what we presume is a high price. In expectation of buying it back at a lower one as “Drill, Baby, Drill” works its magic. In fact, the government might do well to use the money to buy oil futures, guaranteeing US producers a profitable market for oil production at the start of the oil price crash we want them to induce by “over” production in reaction to the price spike.