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The next move will be for Obama to propose an oil import tariff to protect domestic industry and fund green energy research.
Remember, he can go around congress.The next move will be for Obama to propose an oil import tariff to protect domestic industry and fund green energy research.
I wouldn't count on that one getting through congress.
He's got a pen and a phone.Remember, he can go around congress.The next move will be for Obama to propose an oil import tariff to protect domestic industry and fund green energy research.
I wouldn't count on that one getting through congress.
That's his way of green fracking.He's got a pen and a phone.Remember, he can go around congress.The next move will be for Obama to propose an oil import tariff to protect domestic industry and fund green energy research.
I wouldn't count on that one getting through congress.
Any thoughts on turmoil created or is that just hype?
3. Saudi Arabia again. Obama needs to pressure the Sauds to start cranking out more oil and drive the price down. Flood the market. This will put a huge economic bite on Putin, who depends on oil revenues to pay for his aggression in the Ukraine.
Battered by Western sanctions, levels of capital flight not seen since the financial crisis of 2008 and a currency that has lost over 30 percent of its value against the U.S. dollar since January, the Russian economy is expected to narrowly avoid slipping into recession this year.
Lower oil prices could make recession in 2015 a certainty.
If the Russian oil benchmark, Urals crude — which trades about $2 under the Brent price — averages $80 next year then 75 percent of 32 economists surveyed by Bloomberg on Friday predicted that a recession was on the cards.
"What is the reason for the United States and some U.S. allies wanting to drive down the price of oil? To harm Russia," Nicolas Maduro, president of fellow OPEC member Venezuela, said last month.
Masoud Mirkazemi, an Iranian lawmaker and former oil minister, said Riyadh was helping the G20 group of major economies. "Saudi Arabia, which intends to manage OPEC, serves the interests of the G20 group," he said.
In Russia, the idea of a Saudi-U.S. plot against Moscow has become common currency as the economy struggles under the effects of low oil prices and Western sanctions imposed over its annexation of Crimea and support for rebels in eastern Ukraine.
Leonid Fedun, a co-owner of private oil firm Lukoil, cited President Barack Obama's visit to Riyadh in March. "Obama travelled to meet the king of Saudi Arabia just after the Crimea events to push him to these actions (to lower the oil price)," Fedun, whose firm has large U.S. assets, said last month.
Why? There is already an oil export embargo...The next move will be for Obama to propose an oil import tariff to protect domestic industry and fund green energy research.
I wouldn't count on that one getting through congress.
Which has total Republican support. In fact, the GOP demanded it.Why? There is already an oil export embargo...The next move will be for Obama to propose an oil import tariff to protect domestic industry and fund green energy research.
I wouldn't count on that one getting through congress.
