The latest oil price reduction got me thinking...

[WiiWii]

It is obvious that OPEC is doing this to put the fracking (sp?) out of business in the US.

So many times I wonder what the hell our government is doing. In this case, if I were president, I would put a sizable tax on any oil imported from overseas...especially from the middle east. We have finally gotten back to the point were we are close to being energy independent and that is an important strategic objective that we should all share.

Tax the towel head oil and keep the fracking pumping along here at home.

Why is Obama not proposing this? I would suspect that over 80% of the public would be behind it.

 

[MichiganHerd]

Originally posted by WiiWii:

Tax the towel head oil and keep the fracking pumping along here at home.

Why is Obama not proposing this? I would suspect that over 80% of the public would be behind it.

Didn't you already go on the record of stating you were smarter than everybody else on this board?

If you truly were, then you wouldn't have an issue understanding the reasoning.

 

[WiiWii]

Originally posted by MichiganHerd:

Originally posted by WiiWii:

Tax the towel head oil and keep the fracking pumping along here at home.

Why is Obama not proposing this? I would suspect that over 80% of the public would be behind it.

Didn't you already go on the record of stating you were smarter than everybody else on this board?

If you truly were, then you wouldn't have an issue understanding the reasoning.

So that is your response? Just admit that I am right?

 

[MichiganHerd]

Do you have a breakdown of where the United States imports most of its petroleum from? Do you believe most of it comes from, as you call them towel heads? How do you think towel heads would react to the US placing huge fees on the Saudis and other Arab countries? How do you think Canada, Russia, Mexico, and Venezuela would react? Would the Saudis continue to purchase things like military equipment from the US?

 

[WiiWii]

Originally posted by MichiganHerd:
Do you have a breakdown of where the United States imports most of its petroleum from? Do you believe most of it comes from, as you call them towel heads? How do you think towel heads would react to the US placing huge fees on the Saudis and other Arab countries? How do you think Canada, Russia, Mexico, and Venezuela would react? Would the Saudis continue to purchase things like military equipment from the US?

All good questions...so let me ask one. You are worried about their reaction, but not about the inevitable result that they are aiming to bankrupt the fracking business in the US so that the can maintain their marketshare and influence on our economy and politics? I am willing to bet that Saudi Arabia will continue to buy our weapons as long as they are the best weapons available. If they don't, oh, well...I guarantee that they are spending way less on our weapons than we will on their oil if they succeed with this strategy.

BTW, the answer to your question is that, right now, we import very little of their oil. I want to keep it that way by putting a tax on their imports and protecting our own natural resources. Hell, being that this is a West Virginia board, I would have guessed this to be the least controversial thing I could possibly say on here.

 

[MichiganHerd]

I'm all for low oil prices, and would prefer to pay the same price I paid when I purchased my first tank to fill up the old Vega back in '76. I think it was like $0.43 a gallon or so. Believe it or not though, the low oil prices will ultimately have a negative impact on the global economy, and will likely begin in debt heavy China.

 

[WV-FAN]

bunch of damn racists up in this thread. at least michjackass knows he's a racist; this other jackass thinks one's only racist if it's African American's they're degrading.

 

[WiiWii]

Originally posted by MichiganHerd:
I'm all for low oil prices, and would prefer to pay the same price I paid when I purchased my first tank to fill up the old Vega back in '76. I think it was like $0.43 a gallon or so. Believe it or not though, the low oil prices will ultimately have a negative impact on the global economy, and will likely begin in debt heavy China.

China is very debt heavy...you are right and most people do not realize that point. That said, I am not sure that I agree that they will be the first or the hardest hit. They are an oil importer, not exporter. The country that could be brought to its knees is Russia. In fact, there is a possibility that this recent unwillingness of Saudi Arabia to limit production is really being manipulated by the US and the EU to punish Russia for the Ukraine situation. Not saying that is what happening, just saying it is a possibility.

My whole point in this thread is that we are talking currently about a gas tax and I think we would be better served to tax oil imports more. That way we can influence the source of oil that is consumed in the US and protect our domestic sources rather than letting them wither on the vine, which is likely to happen otherwise.




This post was edited on 12/4 2:22 PM by WiiWii

 

[pj(HN)]

Originally posted by MichiganHerd:
Do you have a breakdown of where the United States imports most of its petroleum from? Do you believe most of it comes from, as you call them towel heads? How do you think towel heads would react to the US placing huge fees on the Saudis and other Arab countries? How do you think Canada, Russia, Mexico, and Venezuela would react? Would the Saudis continue to purchase things like military equipment from the US?

Well this is rather comical... MichiganHerd pointing out that someone is using what appears to be a derogatory term to discribe someone... LOL...

 

[WiiWii]

Originally posted by pj(HN):

Originally posted by MichiganHerd:
Do you have a breakdown of where the United States imports most of its petroleum from? Do you believe most of it comes from, as you call them towel heads? How do you think towel heads would react to the US placing huge fees on the Saudis and other Arab countries? How do you think Canada, Russia, Mexico, and Venezuela would react? Would the Saudis continue to purchase things like military equipment from the US?

Well this is rather comical... MichiganHerd pointing out that someone is using what appears to be a derogatory term to discribe someone... LOL...

Yep, I know. That said, I probably should have not worded it that way, it certainly did not make my argument any stronger and served to bring me down to his level. My bad...

 

[MichiganHerd]

Originally posted by pj(HN):
Well this is rather comical... MichiganHerd pointing out that someone is using what appears to be a derogatory term to discribe someone... LOL...

Let me simplify this for you, moron. I'm pointing out this particular moron's racial language due to the 792 posts he has started about me, in which he calls me a racist.

In other words, he's a hypocrite, as well as a proven moron, moron.

 

[HerdandHokies]

So are we going to make protectionism a thing, or just for strategic materials? Or just for oil? Will we be ok with that door swinging the other way?

 

[MichiganHerd]

Originally posted by HerdandHokies:
So are we going to make protectionism a thing, or just for strategic materials? Or just for oil? Will we be ok with that door swinging the other way?

No, we won't be okay with that. Last year, we exported 2.3 trillion dollars, while importing 2.7 trillion dollars worth of goods.

But....go ahead and lay those big taxes on pee wee's "towel heads" (as he calls them). See how that works out, and guess who will end up being the biggest losers. Save a buck on a gallon of gas, and spend 3x that savings on a foreign automobile or electronic gadget.

You see, guys like Pee Wee, who claim their intelligence supersedes all others, usually turn out to be complete morons in real life. I believe he even bragged in another thread about his prowess over on the smack board and how he makes guys like me miserable with his smacktology skills, but yet I was told just yesterday he was over on his board begging fellow WVU posters to come over to the Herd smack board to assist him in putting me in my place.

Edited to include that he did indeed do that. Pathetic pee wee. Be your own man.

This post was edited on 12/4 4:01 PM by MichiganHerd

 

[pj(HN)]

Originally posted by MichiganHerd:

Originally posted by pj(HN):

Well this is rather comical... MichiganHerd pointing out that someone is using what appears to be a derogatory term to discribe someone... LOL...

Let me simplify this for you, moron. I'm pointing out this particular moron's racial language due to the 792 posts he has started about me, in which he calls me a racist.

In other words, he's a hypocrite, as well as a proven moron, moron.

Priceless... Michigan... Im not calling you a racist... But dude... You do have racist tendicies...

 

[MichiganHerd]

Originally posted by pj(HN):
Priceless... Michigan... Im not calling you a racist... But dude... You do have racist tendicies...

Right or wrong, I'm of the belief that pretty much everybody is a racist in some way, shape, or form. Most simply won't admit it.

 

[HerdandHokies]

That's very true although I consider it more a reason to be self aware and less an excuse to keep on being racist.

 

[banker6796]

Can we get back to weewee's complete lack of knowledge as it pertains to macroeconomics? This is the smart guy board, weewee. You should stay over on TiTM.

 

[WiiWii]

Originally posted by banker6796:
Can we get back to weewee's complete lack of knowledge as it pertains to macroeconomics? This is the smart guy board, weewee. You should stay over on TiTM.

I actually understand Macroeconomics quite well....and to those of you who have already labled me a liberal, you might be surprised to know that, in just about every way, my siblings perceive me as the crazy conservative of the family. A few years ago, for christmas, I purchased copies of my Macroeconomics book from CMU and gave each of them a copy and told them to read it. So many (almost all) Americans have zero idea of how macroeconomics works.

Now, to the topic of this thread again. I am NOT a proponent of protectionism. That said, OPEC is clearly exercising preditory pricing here and that changes things. When we felt like the Japanese were subsidizing their products we employed a taraf strategy and this is 1000x worse than that. Secondly, to those who say that they will do the same on our products I say, "bwhahahaha!" What does Saudi Arabia buy from us other than weapons again? Why do they even need our weapons??? They know if they get in trouble, we will protect their oil anyway! This is one circumstance where there is little reason not to protect our own national interests - energy independence!

Honestly, given that you are all a bunch of West Virginia hillbillies anyway, I would have figured you would be all for protecting fracking...

 

[HFF-SLTX]

Been off the board and out of the country lately. But to chime in on this one, I would say that this is likely a coordinated effort between the EU/US and Opec. Just my .02 worth, and nothing I know, just speculation. Speculation based on the following:

1. Losers - Russia (overall economy), ISIS, Venezuela, Nigeria, South America (Brazil/Argentina oil production--breakeven of 70-80 per barrel), Portions of the US fracking industry.

2. Winners: EU economy, US consumers, OPEC countries that are threatened by ISIS, India, China


Putin's economy is all based around oil. ISIS is making most of their money through black market oil sales. Lower prices forces their margins down negatively impacting their funding.