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Trump to ban Saudi Oil imports

shanners said:
So if Trump really tells the Sauds to stick it, will it mean much to the US economy?

Trump: We Are Banning Saudi Oil From America – InvestmentWatch

Considering the recent announcement of a huge oil deposit in Texas, probably not:



https://www.usgs.gov/news/usgs-estimates-20-billion-barrels-oil-texas-wolfcamp-shale-formation
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This is simply another empty threat from Trump. He repeated this during the election and is simply meant to galvanize support from oil workers hit by the downturn.
 
TheDemSocialist said:
This is simply another empty threat from Trump. He repeated this during the election and is simply meant to galvanize support from oil workers hit by the downturn.
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You're right. There was a serious risk of Louisiana, Oklahoma, Texas, North&South Dakota turning blue this year. What a clever chap Trump is to make these promises to keep those states from Flipping to Hillary!
 
Kobie said:
Sweet! Get ready for $5/gallon gas.
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Good. We pay over $8/gallon here. The US could really use higher gas prices so that they drive more fuel efficient cars and we stop seeing every other 17 year old kid driving a monster pick up truck around that gets 8 miles to the gallon.
 
Mac77 said:
Banning saudi oil would be unwise which is why I do not think trump will do it

But greatly increasing US oil production will naturally reduce Saudi oil imports
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That is the plan... ban Saudi oil and increase US production... nothing else even makes sense.
 
Μολὼν λαβέ;1066580236 said:
Interesting how liberals cry about the US conducting business with Saudi Arabia because of their connection to terrorism, including 9/11, but then criticize a Republican when he wants to plug on that relationship.
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Bet you cant name one liberal poster who fits your description
 
Kobie said:
Sweet! Get ready for $5/gallon gas.
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Not really or for very long. We have too much local supply. We need to start exporting more of it.
 
flogger said:
You have 300 million to choose from over there and this guy was deemed the best for the job ? Really ?

Your system is seriously broken and looking in from the outside its a terrifying prospect to think that its this guy who has his finger on the button of the most lethal nuclear inventory ever seen. The world is suddenly a far more dangerous place than its ever been since the Cold War and you guys actually voted for it to be that way :(
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Oh, good. The guy that wants to tell us all about gun control now thinks he can tell us how to run the country. Your alarmism and emotional responses are the epitome of liberal thought, or lack of it.
 
OpportunityCost said:
Oh, good. The guy that wants to tell us all about gun control now thinks he can tell us how to run the country. Your alarmism and emotional responses are the epitome of liberal thought, or lack of it.
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This is political forum? Everyone has aright to dissect and object to ANY aspect of ANY other countries politics, imo.

As far as I am concerned, 'he' can tell Americans anything he wants to about America...as can anyone else.

If you don't like what he has to say, I suggest you not read his posts.
 
DA60 said:
This is political forum? Everyone has aright to dissect and object to ANY aspect of ANY other countries politics, imo.
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Everything with that guy is a blanket emotional appeal.
 
OpportunityCost said:
Oh, good. The guy that wants to tell us all about gun control now thinks he can tell us how to run the country. Your alarmism and emotional responses are the epitome of liberal thought, or lack of it.
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Believe me my friend I'll be delighted if we all get through this presidential term unscathed

PS . I'm not now nor ever have been any kind of liberal :wink:
 
shanners said:
So if Trump really tells the Sauds to stick it, will it mean much to the US economy?

Trump: We Are Banning Saudi Oil From America – InvestmentWatch

Considering the recent announcement of a huge oil deposit in Texas, probably not:



https://www.usgs.gov/news/usgs-estimates-20-billion-barrels-oil-texas-wolfcamp-shale-formation
Click to expand...

It's important to note that although "fracking" has produced a new windfall of oil, it is only due to an incremental improvement in scouring depleted wells of their remaining oil. It does not represent new oil finds. Oil is rarely drained to the last drop in oil wells, as it is too diffuse and separated for such efficiency. This is just a way to get a few more drops, in the scheme of things. Some analysts say that most or all such endeavors will peak within a decade, and the US (and many other places) will be again turning their heads to the Middle East, at that time.
 
Mac77 said:
The Saudis DO NOT buy apartments from me and I like them too

In the explosive middle east its better to have them as allies than enemies
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And I largely agree with that, but the difference between me and Trump is that I didn't run an insurgent populist campaign that promised to dismantle the status quo and stand up to "global financial interests", nor did I pledged to ban Saudi oil imports.
 
if Saudi oil were to be banned, oil futures and gas prices would go through the roof and stay there, even if they found an ocean of oil under Texas. that would be pretty stupid policy. if he really wants to stick it to SA, then make it do its own job as regional hegemon, and set a moonshot goal to replace oil as our primary transportation fuel in 30 years.
 
Abbazorkzog said:
Jeeeeez, gas prices are about to ****in skyrocket.
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No, there would have to be an actual decline in global supply for that to happen. The US gets 11% of it's annual oil from Saudi Arabia that would have to be sourced elsewhere, and only temporarily while the US continues to exploit its own resources.

For the gas prices to spike Saudi Arabia would have to cut their oil output, which would hurt than more than it would hurt the US since their cut would have to exceed the ever growing supply increase by the growing US oil production.

All of this is unlikely to happen since whatever we don't buy will be sold to China.
 
Gaztopian said:
And I largely agree with that, but the difference between me and Trump is that I didn't run an insurgent populist campaign that promised to dismantle the status quo and stand up to "global financial interests", nor did I pledged to ban Saudi oil imports.
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I'm a protectionist but not an isolationist.

Many trumpsters like me want better trade deals, smarter trade that is good for America not a total cutoff of trade with the rest of the world.

So if trump solemnly promised to cut off saudi oil imports - and Im not sure he did - but if he did I release him from that promise because in my opinion it would be a mistake.
 
DA60 said:
Is this Trump's master plan for reviving the flagging American economy? Protectionism?
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Hopefully and it isn't protectionism. It is trading to our benefit rather than our detriment. Trump has never uttered word about protectionism. He has only talked about raising the cost of exporting to the U.S. in the same way others have done to us. Perhaps we need to define protectionism. It isn't import duties.

Massive tariffs on Mexican, Chinese and God-know's-who-else's imports? Ban Saudi oil? Tear up all trade deals?
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one can only hope.

Protectionism has been tried many times before...it ALWAYS fails...miserably. Smoot Hawley for one...which many blame for largely causing the Great Depression. And it always hurts the poor/middle classes the most as prices shoot upwards while the rich get MUCH richer from the added profits and the new monopolies they enjoy.
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What he proposes isn't protectionism. It is a rise in prices. By the way the great depression was caused by an investment bubble. Don't worry we'll have another bubble soon enough.

If he actually believes this and it is just not pandering to ignorant voters who simply do not know better AND he manages to get these protectionist measures through Congress...kiss prosperity goodbye for many years for the masses (unless you are rich - then it's time to celebrate).
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It appears you like the way things have been going. Which prosperity do you wish to kiss goodbye?


The more this guy talks since the election, the less confident I am that he has the remotest idea how to run a country...let alone one as powerful as America.[/QUOTE]
 
fmw said:
Hopefully and it isn't protectionism. It is trading to our benefit rather than our detriment. Trump has never uttered word about protectionism. He has only talked about raising the cost of exporting to the U.S. in the same way others have done to us. Perhaps we need to define protectionism. It isn't import duties.
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'What is 'Protectionism'
Protectionism refers to government actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition. Typical methods of protectionism are tariffs and quotas on imports and subsidies or tax cuts granted to local businesses. The primary objective of protectionism is to make local businesses or industries more competitive by increasing the price or restricting the quantity of imports entering the country.'

Read more: Protectionism Definition | Investopedia Protectionism Definition | Investopedia

No, what Trump is proposing is the EXACT definition of protectionism.


As for Smoot-Hawley?

'Unemployment was at 8% in 1930 when the Smoot–Hawley tariff was passed, but the new law failed to lower it. The rate jumped to 16% in 1931, and 25% in 1932–33.'

https://en.wikipedia.org/wiki/Smoot–Hawley_Tariff_Act#Coincident_economic_events
 
DA60 said:
Is this Trump's master plan for reviving the flagging American economy? Protectionism?

Massive tariffs on Mexican, Chinese and God-know's-who-else's imports? Ban Saudi oil? Tear up all trade deals?

Protectionism has been tried many times before...it ALWAYS fails...miserably. Smoot Hawley for one...which many blame for largely causing the Great Depression. And it always hurts the poor/middle classes the most as prices shoot upwards while the rich get MUCH richer from the added profits and the new monopolies they enjoy.

If he actually believes this and it is just not pandering to ignorant voters who simply do not know better AND he manages to get these protectionist measures through Congress...kiss prosperity goodbye for many years for the masses (unless you are rich - then it's time to celebrate).


The more this guy talks since the election, the less confident I am that he has the remotest idea how to run a country...let alone one as powerful as America.
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He has been described as a protectionist many times before. He is not a traditional Republican. He is a authoritarian protectionist.
 
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