We Need A 500% Oil Tariff

[TheTalkingMule]

The Saudis keep pumping oil at $8/barrel and have an unfair advantage over US frackers whose costs are more like $50. I propose a 500% tariff on foreign oil to level the playing field and make America great again.

 

[SabrToothSqrl]

Let's go with a slightly more reasonable 1% that raises 1%/year to a cap of 20%... and a flat import tax of the same for everything.
Car, fuel, computer, fingernail clipper, same exact thing.

that gives everyone a simple timeline to accommodate the changes.

 

[nwdiver]

The Saudis keep pumping oil at $8/barrel and have an unfair advantage over US frackers whose costs are more like $50. I propose a 500% tariff on foreign oil to level the playing field and make America great again.

Unfortunately the US is now awash in fracked oil... we import very little now. Saudi oil just makes oil cheaper by depressing prices. Need to apply a 500% fee to all oil....

Let's go with a slightly more reasonable 1% that raises 1%/year to a cap of 20%... and a flat import tax of the same for everything.
Car, fuel, computer, fingernail clipper, same exact thing.

that gives everyone a simple timeline to accommodate the changes.

You're missing the point... this isn't to cripple our economy with protectionist BS. This is to wean us off fools fuel.

Some countries simply make some things better and cheaper than others. The US makes a ton of cheap soy... China makes a ton of poly-silicon. It's a net benefit for China to buy cheap US soy and for the US to buy cheap Chinese solar. Some US solar manufactures and some Chinese soy farmers lose but it's a net gain.

Listen carefully..... TARIFFS. DO. NOT. WORK!!!

 

[SabrToothSqrl]

Then I wonder why so many countries use them...

China’s Taxes on Imported Cars Feed Trade Tensions With U.S.

 

[Xenius]

I'd just be happy if we removed oil subsidies.

 

[nwdiver]

Then I wonder why so many countries use them...

China’s Taxes on Imported Cars Feed Trade Tensions With U.S.

Tariffs don't work but lobbying and favoritism can get governments to do things that aren't in their overall best interest. Ethanol doesn't 'work ' either... but we keep paying farmers to produce it....

 

[Big Earl]

I'd much prefer a carbon tax.

 

[rays427]

Unfortunately the US is now awash in fracked oil... we import very little now. Saudi oil just makes oil cheaper by depressing prices. Need to apply a 500% fee to all oil....



You're missing the point... this isn't to cripple our economy with protectionist BS. This is to wean us off fools fuel.

Some countries simply make some things better and cheaper than others. The US makes a ton of cheap soy... China makes a ton of poly-silicon. It's a net benefit for China to buy cheap US soy and for the US to buy cheap Chinese solar. Some US solar manufactures and some Chinese soy farmers lose but it's a net gain.

Listen carefully..... TARIFFS. DO. NOT. WORK!!!

I don't know about your statement that the US is awash in oil. In 2016 we used 19.69 million BPD and produced 8.86 million BPD. This year because of fracked oil we will produce about 10 million BPD which is about half of what we use so I don't think that's importing very little. If we applied a 500% fee on all oil it would add about $1.7 Trillion to the cost based on current $60/bbl to $300/bbl.