How to Regain Control of the U.S. Oil Market

How to Regain Control of the U.S. Oil Market
  • Opening Intro -

    As economist, theorist, and philosopher Rudolph Hiferding once said,

    "The expansion of the market creates a need for enhanced and more regular supply, and this in turn impels commercial capital to acquire control of production as well."


To put it in English, to have a succeeding market you need somehow control the market. However right now our nation has done quite the opposite.

For instance the U.S. oil market has had such an influx of foreign oil that hundreds of thousands of people have lost their jobs, according to Oil Price “A total of 351,410 jobs have been slashed by oil and gas production companies worldwide.”

This article seeks to explain how, if at all possible, the U.S. market will reproduce the jobs so many have lost.

Supply and Demand

OPEC or the Organization of the Petroleum Exporting Countries is an intergovernmental agency that measures the supply and demand of oil across the globe. Unfortunately for the U.S. OPEC has allowed the supply to go so far up that there is exponentially less demand.

For instance gas prices went from $3.41pg to 1.63pg in only one year, all because the U.S. market has been completely flooded. Similar to the housing market crisis of 2008, if one market collapses everyone in every market is affected.

Hence the only way to prevent another possible market failure is to control not only domestic oil trade, but also foreign trade as well; however the only way to do this through tariffs. According to business insider, Oil is now for the first time in 6 years below $45 per barrel.

It is simple mathematics. The more oil the lower the price, the less oil the higher the price. If we simply place tariffs to control the supply of foreign oil, then empirically and pragmatically the market will improve.

At the end of the day there are two worlds and we all are forced with a decision of which one we chose to live in. The first one you are unfortunately all too familiar with. A world where jobs seem impossible to find, where low market stimulation is normal and non-U.S. agencies have the power to flood or drought any market at the click of a button. A world known as the status quo.

Yet there is another world, one where gas is a normal amount and the 351,000 jobless citizens have enough to provide for their families. A world where the entire U.S. economy is balanced and all people are one step closer to having equal opportunity.

The first world requires nothing in fact doing nothing even perpetuates our broken economy, however if true change is to occur America has to regain control of the markets we have lost. You chose which world you want to live in.

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