Should President Obama put an embargo on Oil over $50 a barrel?
Is that really practical? Are you saying the U.S. will not buy oil over $50 a barrel? Go luck finding any oil if you aren't willing to pay the market rate.
that would destroy your economy first off. secondly where would you folks get the oil if you aren't willing to pay what oil companies are asking? the U.S. is the largest consumer per capita by far over any other country in the world so you would have to completely change the way you live. completely.
i'm not sure of the effects of an embargo. short term prices should go down, but as soon as the embargo is lifted i believe prices would rise to more than make up for earlier savings.
OPEC takes advantage of the US everyday. They sit in a room and say...OK the US is doing good. Lets bend them over. We need to take a stand against these guys. The US has plenty of oil. We need to start drilling for it. We need to lay the lay with OPEC and stop letting them take advantage of us.
We should stop importing oil all together. We should reduce imports by 5% per year until we no longer import it from other countries. We have all the oil we need. All we need to do is take it out of the ground. We would create 1000s of jobs, heal our economy, bring the trade deficit into balance, and quit being the pawn of middle eastern countries whose oil we buy.
I think it is like someone who is an ice cream manufacturer going to Baskin-Robbins for a cone.
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