We’ve brought you several stories about the Saudi-Russian oil price war underway in which both Saudi Arabia and the Russians are pumping oil like crazy and lowering the price they charge for their oil–all in a bid to bankrupt American shale oil companies. A number of ideas have been floated to “encourage” the Saudis to scale back on production, which would raise prices again (the Russians are a lost cause and not worth the effort). We’ve talked about an embargo on foreign oil coming into the country (see U.S. Sen. Kevin Cramer Asks Trump to Embargo Saudi/Russian Oil), and our preferred response, a tariff on foreign oil (see It’s Time for a $40/Barrel Tariff on Saudi Oil Coming into U.S.). Not everyone thinks an embargo or tariff is a good idea, including the Marcellus Shale Coalition (MSC).
We’ve brought you several stories about the Saudi-Russian oil price war underway in which both Saudi Arabia and the Russians are pumping oil like crazy and lowering the price they charge for their oil–all in a bid to bankrupt American shale oil companies. A number of ideas have been floated to “encourage” the Saudis to scale back on production, which would raise prices again (the Russians are a lost cause and not worth the effort). We’ve talked about an embargo on foreign oil coming into the country (see 