Our View: Limiting oil imports would help to protect American producers Posted: April 28, 2016 - 6:2

Discussion in 'Energy' started by bluewill67, May 12, 2016.

  1. bluewill67
    Offline

    bluewill67 Rookie

    Joined:
    Sep 12, 2015
    Messages:
    34
    Thanks Received:
    7
    Trophy Points:
    1
    Ratings:
    +11
    The full article is here-> Our View: Limiting oil imports would help to protect American producers

    By the Lubbock Avalanche-Journal

    "When the price of oil drops, so does the cost of gasoline. But while people are enjoying paying lower prices at gasoline pumps, plunges in oil prices can cause economic damage in Texas.

    And it can put American oil producers out of business when the price of foreign oil imports gets cheaper than the costs of extracting oil from the ground in the U.S.

    Oil producers in the Panhandle recently announced the Panhandle Import Reduction Initiative. Their hope is to limit the amount of oil that can be imported from other countries.

    We wish them success in getting sympathetic ears to hear their initiative and gathering like-minded people to help further it.

    They are right that a limitation should be set on the amount of oil imports from the Organization of Petroleum Exporting Countries.

    Representatives of OPEC’s 18 nations recently met in Doha, Qatar. Among their topics of discussion was whether to freeze oil production levels.

    The nations didn’t reach an agreement on the subject.

    “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. This will drive the price down to $26 (a barrel) again,” said oil producer Tom Cambridge.

    The U.S. currently is enjoying a record level of energy production. Between 2008 and 2015, oil production in the U.S. increased by nearly 4.5 million barrels a day.

    The increased production had a predictable effect on imports. Light crude oil imports to the U.S. declined from 2.2 billion barrels a day in 2010 to 625,000 barrels a day in 2014.

    It’s easy to see why OPEC countries didn’t reach an agreement on freezing oil production. They want plenty of oil to be available on the international market to bring down oil prices.

    When the prices get low enough, it hurts American oil producers and hinders domestic production of oil.

    This isn’t the first time OPEC has played this manipulative game and engineered economic havoc in Texas — and elsewhere in the U.S.

    In the past, after they have lowered our production levels, the OPEC countries haven’t had any difficulty reaching an agreement to freeze production.

    At that point, they will want to increase oil prices by lowering the supply of it.

    It’s time to stop this tactic, and the Panhandle Producers and Royalty Owners Association have the right idea.

    If oil imports to the U.S. are limited, it means more companies will be buying the oil that’s produced here."
     
  2. HenryBHough
    Offline

    HenryBHough Gold Member Supporting Member

    Joined:
    Jul 14, 2011
    Messages:
    23,574
    Thanks Received:
    4,025
    Trophy Points:
    290
    Location:
    Oak Grove, Massachusetts
    Ratings:
    +12,980
    Does anyone doubt that OPEC & Friends will throttle production the minute it's clear that America's petroleum industry has been so hobbled that production could not resume for 3-5 years? Once drilling is stopped and wells capped it's a bitch to get things moving again.
     
    • Winner Winner x 1
  3. Moonglow
    Offline

    Moonglow Diamond Member

    Joined:
    Jun 27, 2011
    Messages:
    101,331
    Thanks Received:
    9,623
    Trophy Points:
    2,070
    Location:
    sw mizzouri
    Ratings:
    +41,330
    It's all about business.....Why should we cry about oil when they turn their backs on other industries?
     
  4. Toddsterpatriot
    Offline

    Toddsterpatriot Platinum Member

    Joined:
    May 3, 2011
    Messages:
    34,383
    Thanks Received:
    4,482
    Trophy Points:
    1,130
    Location:
    Chicago
    Ratings:
    +15,919

    "When the price of oil drops, so does the cost of gasoline. But while people are enjoying paying lower prices at gasoline pumps, plunges in oil prices can cause economic damage in Texas.

    And vice versa. So what?

    Oil producers in the Panhandle recently announced the Panhandle Import Reduction Initiative. Their hope is to limit the amount of oil that can be imported from other countries.

    Unless US producers can provide every drop we need, this would be Obama level stupidity.

    If oil imports to the U.S. are limited, it means more companies will be buying the oil that’s produced here.

    Ummmm....every single drop of oil produced here is already bought. Morons!
     
  5. Toddsterpatriot
    Offline

    Toddsterpatriot Platinum Member

    Joined:
    May 3, 2011
    Messages:
    34,383
    Thanks Received:
    4,482
    Trophy Points:
    1,130
    Location:
    Chicago
    Ratings:
    +15,919
    Once drilling is stopped and wells capped it's a bitch to get things moving again.

    Fracking isn't like developing a huge offshore oilfield.
    Now that we know how to do it, higher prices could jump start new fracking......quickly!
     
  6. Mr. H.
    Offline

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,171
    Thanks Received:
    9,278
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,486
    The rig count in this country is at the lowest it has ever been in the 150 year history of this industry.

    "Rig count" is the number of actively working drilling rigs.

    Is Obama happy? Are Liberals/Progressives/Socialists/Communists happy?

    You better fucking believe it.

    The devil of the world is not oil and natural gas operations. It is agriculture. The single biggest raper of all the world's environments. But, as Paul Harvey once posited... God made an ass-fucking farmer.

    Fuck farmers.
     

Share This Page