Saudis ship 13 mm bbls oil to U.S. to hurt U.S. shale. On its way. . . . . . . AND TRUMP DOES NOTHING. .

[BLA + 1,666]

Perry has it right.  This action by Mohammed bin Salman is in violation of antitrust law,  World Trade Organization by-laws and just unfair.  This is clearly an example of predatory pricing and the dumping of product.

Trump do your job.  Ban crude imports for 90 days.  Our USMCA Trading  Partners are exempt for obvious reasons. 

You can't sue a Sovereign State, but you can sue a corporation for anti-dumping violations.  The Texas Oil & Gas Association (TXOGA) should sue Aramco Corporation in Port Arthur, Texas.  I'm sure Perry could find a sympathetic judge at the infamous Eastern Texas Federal "rocket docket" Court. 

So 13mm bbls X $25 =$325 million .  Treble damages = $975 million. 

U.S. shale can't  take this lying down.  

TURN THOSE TANKERS AROUND

To borrow a phrase from Mark Twain , "The rumors of U.S. Shale's death are greatly exaggerated"

Go get 'em Rick.

 

 

.  .  .  .  .  also bring the troops home while you're at it. 

Edited April 10, 2020 by BLA

[Justina Okede 0]

What happened to the principles of Free Market and supply & demand??? how come capitalist America want state intervention to determine a '' healthy'' price? is not that what socialists have been calling for for ages? a state-managed market.

Adam Smith must be rolling in his grave. 

[Douglas Buckland + 6,308]

8 minutes ago, Justina Okede said:

What happened to the principles of Free Market and supply & demand??? how come capitalist America want state intervention to determine a '' healthy'' price? is not that what socialists have been calling for for ages? a state-managed market.

Adam Smith must be rolling in his grave. 

Do Saudi Arabia and Russia adhere to the principles of the free market and supply & demand? I think not.

That being the case, why should the US handcuff itself to free market principle in the case of this ‘price war’?

I really don’t think Adam Smith gives a shit at this point.

Free market principles assume a level playing field. This is not.

[Boat + 1,323]

By far the biggest and dirtiest importer is Canada. They will not build their own pipelines to their ports. Of course the US doesn’t need imports from a host of of other countries as well. 90 days? Why not wait till we need oil before importing it. 
 

[BLA + 1,666]

21 hours ago, Justina Okede said:

What happened to the principles of Free Market and supply & demand??? how come capitalist America want state intervention to determine a '' healthy'' price? is not that what socialists have been calling for for ages? a state-managed market.

Adam Smith must be rolling in his grave. 

Free markets have rules.  Monopolistic behavior, predatory pricing, dumping threaten free markets.