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originally posted by: Cauliflower
a reply to: Pilgrum
The only conceivable interpretation of Trumps statements would involve direct taxpayer subsidy for the fracking industry.
If the US did something stupid like lower demand for Saudi oil through boycott, Asia and European industrial complexes would get a huge competitive advantage in sharply lower energy costs from Saudi dumping the excess oil production.
So the only intelligent speculation that can be made here is why Trump is talking about putting subsidized domestic oil reserves on the open market before the middle eastern oil is used up?
originally posted by: proteus33
a reply to: intrptr
i say we need to form a coalition with Russia and Britain and put the kingdom and it clerics out of power. they have been brow beating the world too long they are the ones who attacked us on 9/11, they are the ones funding isis attacks around world.
originally posted by: DBCowboy
a reply to: loam
I think everyone can get behind the idea of energy independence.
Saudi's can suck it!
originally posted by: DustbowlDebutante
a reply to: jadedANDcynical
The way I understand it, the reason we buy their sweet light crude is because it's easier to refine than the heavy sour oil we get here in the US (there is some sweet light, but not like what they produce in the ME), and our refineries here cannot handle refining our oil. So we ship our oil overseas for others to refine elsewhere and import oil that we can refine more easily.
IMO - we need to build new refineries that can handle our domestic crude. Then we would be able to use our locally produced crude, rather than depending on "easy" oil from the ME. Jobs would be created in the construction of these new refineries, more jobs will then be created in order to staff these refineries as well as monitor them and increased domestic production means more jobs in the field.
When you add the job growth to the money already saved in shipping our oil out and importing ME oil, that all adds up to a nice bit of money that is staying in our economy and benefiting our country as a whole, rather than going into our frenemy's pockets.
originally posted by: loam