Perhaps a dumb question: Given Saudi Arabia / Russia appears to be waging war on US oil production... Why isn't our government putting tariffs on imported oil to support American industry/jobs?
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This says we export 3mm barrels a day. Import about double that of 5.8mm.pic.twitter.com/IRo6MQhi5M
My mistake. Thanks for the correction. So USA is a net exporter of petroleum products but still a net importer of crude. You’re right, I think. Tariffing up crude imports would help support local producers. I’d have govt expand strategic reserve first, but tariffs would work also
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We export a lot of refined product (big reason why we still import crude)? Imagine places we send product are mostly not places whose crude we'd tax. That policy seems to advantage producers/users of domestic over foreign oil, which seems smart given cost of transit protection...
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