Curious as to what people think of this possibility. It's an attempt to address supply issues and raise prices for oil companies in the US. The demand side will be predicated on how quickly recovers from the virus recession. He tried to help demand by purchasing some for our strategic reserves. While an increase in oil prices is good for oil companies and workers, it would obviously have an opposite effect for other businesses and consumers. Some industry production costs will be effected more than others and result in increased prices of products. I would expect this to hit farmers harder. The biggest effect on most consumers is gas. How would this effect efforts to recover? How will American demand go up for US oil if foreign oil is taken off the market? I was under the impression that much of the increase in US production was because of shale recovery and it's an expensive process.. Can this save those companies? This seems very unlikely to effect global demand. OPEC tariffs are unlikely but would it might impact relations between US oil companies and their investments in foreign countries. OPEC was wanting US commitments to make production cuts for them to make cuts. It's hard to imagine US companies coordinating efforts to decrease supplies and impossible to imagine Trump trying to impose some type of quotas. Lots of all people on this board involved in the oil industry. Really interested in your opinions.
Trump floating oil tariffs as a possibility/threat.
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