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Trump to ban Saudi Oil imports

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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:

USGS announced that an area known as the Wolfcamp shale contains 20 billion barrels of oil and 16 trillion cubic feet of natural gas. That is nearly three times more petroleum than the agency found in North Dakota’s Bakken shale in 2013. As NPR’s Jeff Brady reported, the amount of oil in the Wolfcamp shale formation is nearly three times the amount of petroleum products used by the entire country in a year.

https://www.usgs.gov/news/usgs-estimates-20-billion-barrels-oil-texas-wolfcamp-shale-formation
 
Sweet! Get ready for $5/gallon gas.
 
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

"Banning" Saudi oil would require a short adjustment phase and would not do too much to prices in the middle term. It could have a significant impact on the architecture of security in the region.
 
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

Funny how a blog which claims to be pro-capitalism, pro-business, pro-market wants the govt to tell businesses who they can do business with.
 
Funny how a blog which claims to be pro-capitalism, pro-business, pro-market wants the govt to tell businesses who they can do business with.

Huh?


The government already dictates who businesses deal with through regulations conjured up by non elected officials.
 
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
 
Given the US has already given the Saudi's a free pass for their 9/11 attack (because of the threat it would have posed for oil supply) it seems highly unlikely that this embargo will ever come to pass
 
The US imports only about 11% of the oil supply from the Saudi's.

The US and other countries crushed the Saudi's a few years ago.

The Saudi's and other Opec countries are not the biggest kids on the block anymore
 
I highly doubt Trump is going to do anything that might disgruntle the Saudis; after all, he registered 8 new companies in Saudi Arabia in August 2015, shortly after he kicked off his presidential campaign. Furthermore, in a rally in Alabama, he had the following to say about the Saudis:

“Saudi Arabia, I get along with all of them. They buy apartments from me. They spend $40 million, $50 million. Am I supposed to dislike them? I like them very much.”

The Hill

The Washington Post

Forgive me if I'm anything but skeptical with respect to anything Trump has to say about Saudi Arabia. As for the rest of you living in a velvet Trumpian dream, by all means, continue to be the fodder of his deceit.
 
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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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.

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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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
It will mean absolutely nothing.

1. We will buy our oil from somebody else and whoever they sold that oil too in the oast will buy theirs from saudi.

2. We will still end up buying saudi oil unknowingly just like we buy oil from isis.

3. Prices wont move at all because of it. Its not going to effect supply or demand. Drill baby drill and find alternative energy sources, become energy independent should be our focus


Sent from my SM-G920P using Tapatalk
 
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 :(

For the record, he lost the popular vote by 1.7 million votes (at last count).
 
I highly doubt Trump is going to do anything that might disgruntle the Saudis; after all, he registered 8 new companies in Saudi Arabia in August 2015, shortly after he kicked off his presidential campaign. Furthermore, in a rally in Alabama, he had the following to say about the Saudis:



The Hill

The Washington Post

Forgive me if I'm anything but skeptical with respect to anything Trump has to say about Saudi Arabia. As for the rest of you living in a velvet Trumpian dream, by all means, continue to be the fodder of his deceit.

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
 
Funny how a blog which claims to be pro-capitalism, pro-business, pro-market wants the govt to tell businesses who they can do business with.

Trump is none of those things either. Is this what being a conservative is going to mean now?
 
Sweet! Get ready for $5/gallon gas.

Look it this way, necessity is the mother of all invention, who knows it may work out better in the long run, by development of better technology. In the short run we will be enjoying the benefits of high fuel prices, you know, a slow down in business operations along with fewer jobs, higher prices for products, all travel prices going up, so what's not to like.
 
Look it this way, necessity is the mother of all invention, who knows it may work out better in the long run, by development of better technology. In the short run we will be enjoying the benefits of high fuel prices, you know, a slow down in business operations along with fewer jobs, higher prices for products, all travel prices going up, so what's not to like.
Nah, Trump is for our coal industries and all energy industries, energy will be plentiful under his watch.

Under this scenario we just won't be paying the Saudis who are oftentimes funding our enemies, the Islamic extremists. You know, those radical Islamic terrorists the left's leadership won't even mention?
 
Nah, Trump is for our coal industries and all energy industries, energy will be plentiful under his watch.

Under this scenario we just won't be paying the Saudis who are oftentimes funding our enemies, the Islamic extremists. You know, those radical Islamic terrorists the left's leadership won't even mention?

The Saudi's have been good friends to America over the years also

Not only as a bulwark against radical islam in the Gulf region but against the old soviet union during the Cold War

Energy independence is a worthy goal but this desire to create another enemy of America is not well thought out.

We should want to help the saudi royal family to survive
 
Nah, Trump is for our coal industries and all energy industries, energy will be plentiful under his watch.

Under this scenario we just won't be paying the Saudis who are oftentimes funding our enemies, the Islamic extremists. You know, those radical Islamic terrorists the left's leadership won't even mention?

Coal will not be coming back, many manufacturing businesses that used it have converted to other sources, the odds of coal ever being a major source of fuel are done in the US. They will still get their money, there will always be customers, and once we removed them from our allies list we lose a source of intel and gain another enemy. Congress will never allow it, did you miss the fact that they just ok'ed greater military sales to SA, they are not going to let trump cut our ties with SA.
 
Sweet! Get ready for $5/gallon gas.
Liberals should be thrilled because it will spur investment in Green Energy. Obama was too much of a corporate toady and a coward to make such an announcement.
 
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 :(

"England". Lulz. Make sure you don't visit Londonistan or you might be subject to the Sharia laws they have out there.
 
The Saudi's have been good friends to America over the years also

Not only as a bulwark against radical islam in the Gulf region but against the old soviet union during the Cold War

Energy independence is a worthy goal but this desire to create another enemy of America is not well thought out.

We should want to help the saudi royal family to survive
I am not completely opposed to what you are saying.

However, I also am not blind to what the Saudis do that is not in our best interests. Trump putting this out there before he is inaugurated helps the Saudis prioritize, puts their feet to the fire yet gives them some space, some time to think about what they actually want to do before actually being already in the position of having to directly reply.

If they are smart they will cut the funding to radical Islamists.
 
I am not completely opposed to what you are saying.

However, I also am not blind to what the Saudis do that is not in our best interests. Trump putting this out there before he is inaugurated helps the Saudis prioritize, puts their feet to the fire yet gives them some space, some time to think about what they actually want to do before actually being already in the position of having to directly reply.

If they are smart they will cut the funding to radical Islamists.

On balance the saudis are better for America than against
 
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