Tax On Imported Oil

If the U.S would put an import tax on oil and gas coming into the U.S. from foreign countries, instead of a $10 tax on U.S. Production. It would help the United States Oil and Gas Industry.

I'm confused on the so-called tax. Still too many questions about it's use.. and how it will be collected. Saw this in an online report about the tax.

The tax on oil would raise $319bn over 10 years. The US Treasury said that the tax would apply to both imported and domestically-produced oil, but would not be collected on US oil shipped overseas.

The plan would also temporarily exempt home-heating oil from the tax.

It seems to me that Obama is doing everything he can to strangle domestic oil to a halt. I hope we can survive until Jan '17.

I agree. he said he'd bankrupt the coal industry during his first campaign. He's about to accomplish that goal. The next targets are oil/natural gas... and at the same time fund wind/solar-whatever with taxpayers money. So in effect... we're paying to destroy energy supplies other than what he favors. Finally... I don't believe anything that comes from our "government". And that's very sad!

sorry for the rant. well, not real sorry.

I think we should reduce out oil imports to such a degree that domestic oil rises back to the $100 a barrel range.

Then we can get back to Drilling, Baby, Drilling!

The more we drill, the less we need to import, right?

I'm not very smart, but I haven't seen how we can run a vehicle on air or solar!!

Isn"t there some dang agreement that we HAVE to buy OPEC oil? It would be great if we supported our own people and country.

OPEC has been running over the United States since they were formed in the Days of the second worst President we ever had, "Jimmy Carter"! Guess who I think the worst one is! NO the one who I know is!

They seem dedicated to destroying any thing that seems to be related to the Koch brothers.

Unfortunately, I suspect the oil and gas business is in their sights.

Remember when you vote, nothing is free except a common cold and a hard time. Every thing has to be paid for by someone. Sadly, we are running out of wealth people to plunder.

Guess who it is next to be sacrificed to the greed and envy of a certain political party?

Think before you vote.

One of the things I have learned in my life is that you can't make money off of someone that does not have any. So they have to degrade anyone that has earned or inherited anything of value and try to tax it or shame you for having it! I had a really good friend that once said that he did not inherit anything, and that him and his wife earned everything themselves. Which was not close to the truth and that anyone that did was not worthy of it. I said, What about your only child, you daughter that will get what you have left! He said that is different! I asked them how and they did not have an answer.

I think it is because people see others as having it better than themselves. Years ago, Ronald Reagan said to give away the surplus cheese rather than pay to store it. I was working in an office in state government. We were counseled that the cheese should go to the needy. So, we didn't go and pick up the free cheese, but our supervisor who told us that it was for the "needy" did. Worse, he had his wife and kids come down and got free cheese also.

This was they guy that always said "you the wealthy should pay your fair share."

I was doing payroll back then. He was making six times what I and the other clerks were making, yet he saw himself as "needy."

Take the above link to another board’s discussion on this topic.

Tariff OPEC Oil instead.

So should the other North American and South American Countries.

Forge a Trade Agreement among Countries of the Americas.

Call it the OPAC Agreement (Oil Producing American Countries).

Take the above link to another important discussion on these topics also on this board.

Tariff OPEC Oil instead.So should the other North American and South American Countries.

Forge a Trade Agreement among Countries of the Americas.

Call it the OPAC Agreement (Oil Producing American Countries).

Some people are afraid of starting a tariff war, but I ask you, just what does the OPEC nations and The far eastern nations buy from us now days? China buys one or two of something and then copies it and sells millions of knock off on the world market.

The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), otherwise known as the SmootHawley Tariff or HawleySmoot Tariff, was an act sponsored by Senator Reed Smoot and Representative Willis C. Hawley and signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels.

Some economist consider this a trigger to a trade war. But if no other nation is buying our stuff, what do we have to lose?

When World War II started, we still had the factories, all we had to do was hire people and we were back into business. But now, we have sold so many companies to the Chinese, Japanese and Koreans that we don't have those factories. Our industrial base has gone to the far east.

The product may look the same, the packaging looks the same, but there is that little line "Made in China" down in the corner. The company may still seem to be a US company, but that little line tells you who owns the controlling interest.

It is better to buy something used in the second hand store than to buy a new product made in China.

I think Buddy Cotton's plan is the way to go.


If we had continued on with Jimmy Carter's plan, we would be energy self sufficient as a

country and possibly not getting into stupid wars over oil.

Jimmy Carter took office in January 1977. Gotta love that time travel.

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962) – suspended its membership from January 2009-December 2015; Libya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (1975–1994).

U.S. imports from Europe declined from a 1929 high of $1334 million to just $390 million in 1932, while U.S. exports to Europe fell from $2341 million in 1929 to $784 million in 1932. Overall, world trade declined by 66% between 1929 and 1934. [US Dept of State]

Smoot-Hawley was a disaster.

In fact, few economists think the Smoot-Hawley tariff (as it is most often known) was one of the principal causes of the Depression. Worse mistakes were made, largely out of a misplaced faith in the gold standard and balanced budgets. America's tariffs were already high, and some other countries were already increasing their own.

Nevertheless, the act added poison to the emptying well of global trade (see chart). The worldwide protection of the 1930s took decades to dismantle. And bad monetary and fiscal policies were at least based on the economic orthodoxy of the day: economists would tear each other apart over the heresies of John Maynard Keynes. On protection, there was no such division. More than a thousand economists petitioned Hoover not to sign the Smoot-Hawley bill. Bankers like Lamont sided with them; so did editorialists by the score.

Solar produces electricity. Electric cars are on the market. Hope that helps.