If we only used gas produced and refined in the US, that line of thought might make sense. However, we do import a good bit of oil. With Hormuz blocked there is now more global demand for the oil that the US does import, so we have to pay more for it.

TexAgs91 said:

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Im Gipper said:

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Quote:

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There's other options.

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Such as?

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Competition.

US oil companies don't have the Straight of Hormuz to deal with and could sell oil cheaper.

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Am I correct that President Trump could declare a State of Emergency and dictate the price of oil?

Y'all want the government to set the price of a commodity instead of letting the market work? You want the government to tell Exxon and Chevron how much they have to sell their oil for? That's some commie bull*****

RINO Safari said:

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If people could actually trust in President Trump's plan and not have TDS all the time, they'd know that this is a very small price to pay for the end goal

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Remember when paying higher gas prices was OK to save Ukrain?

Pepperidge Farm's remembers.

who's "y'all"?

ChemAg15 said:

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Crude oil is a global market. Just because we dont consume oil from the Persian gulf doesnt mean others dont. And those other consumers are facing higher prices, so theyre looking for alternative sources of crude and theyre willing to pay higher prices. So just because WTI isn't going through the gulf, demand for it has increased and the supply has not, so the price of WTI goes up. And thats why youre paying more at the pump.

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. Yep just like all the LNG ships that were headed for the EU and then ended up taking the higher prices that China agreed to pay because China didn't get their LNGs from the Straight of Hormuz - the laws of supply and demand- Demand is high now with lower supplies coming out of the Middle East

The oil in the United States is not owned by the US unless the federal government has a royalty stake. The oil is owned by corporation who have shareholders most of which are not American. A US corporation has no loyalty to the United States, they will sell to highest bidder. Saudi Arabia sets the price of their crude. The United States does not.

TexAgs91 said:

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Im Gipper said:

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Quote:

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There's other options.

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Such as?

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Competition.

US oil companies don't have the Straight of Hormuz to deal with and could sell oil cheaper.

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You are going to have to explain this.

Sell cheaper how? And why should they?

For the record, I am not for any government control. During WW I the government did take control of the railroads.

Gas in the US already has not spiked as much as in other countries. Domestic production does have an effect.

To further shield ourselves in the short term, release more petroleum reserve. With permitting relieve or incentives, encourage faster US shale ramp-up.

Medium term: reconfigure refineries for lighter crude so we don't need to continue importing heavy oil. Expand export/import infrastructure. Suspend the Jones Act to lower internal transport costs.

Long term: Variable taxation on oil producers (higher rates during price spikes to fund consumer rebates or reserves) could redistribute gains without distorting markets long term. Continue to increase domestic production: Drill Baby Drill.

Long Term? Are you suggesting a Windfall Profits Tax? I seem to remember that being a bit unpopular.

RINO Safari said:

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If people could actually trust in President Trump's plan and not have TDS all the time, they'd know that this is a very small price to pay for the end goal

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Doubting his benevolent wisdom does not TDS make.

Greed

ts5641 said:

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Greed

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Capitalism. It's what makes our economy the greatest ever.

If this thing lasts long enough for drilling to be the solution we're in trouble.