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Follow on Google News | The Panhandle Import Reduction Initiative Calls For An Open Public Debate On Rising Oil ImportsBy: Panhandle Import Reduction Initiative It is not too late for him to learn that as a communications officer in an oil and gas trade association he should support an open forum of all ideas and proposals for the permanent prosperity of the industry, oil and gas communities and workers along with their families. We can explain to him that "sticking to the principles of free trade" not only puts the interest of oil exploration and production in New Mexico and the Southwest in utopia (nowhere) but it asks a question: free trade with who? OPEC determines our price of oil as a cartel. A cartel itself is a rejection of the principles of free trade. For the last 43 years the world price oil has nothing do with free trade of free markets. Another policy tool to defend New Mexico and Texas oil and gas against a OPEC price war for market share to slow or shut it down is the reduction of its exports to the United States. Mr. Drangmeister misleads himself: import quotas do not "stop" or ban imports -- they offer a measure of control in the interest of a "healthy" American petroleum industry and national security. We ask : why are we buying Saudi Arabian light oil which is the same grade of oil we produce while thousands are out of work and drilling rigs are idle here? Mr. Drangmeister has no answer but his belief in"free trade." However, we can inform him through petroleum economics and history that the ability to export oil does not conflict with the industry's second policy tool of control of the volume of imported oil. This appears to be his telling point as an opinion. We will offer analysis to him on how to sort this out. At the same time, having lifted the ban on exporting oil does the industry stop at the water's edge with nothing more to defend itself from more downturns? He should look at his opposition: when the environmental organizations won a "historic' and "lasting" agreement with the chemical industry, they signed off saying "it is a step in the right direction and there is more work to be done." Ditto: oil industry on the lifting the ban on exporting. Dr. Daniel Fine, speaker at the September 27th conference in Carlsbad at the Pecos River Village Center. (Mr. Drangmeister's full comments referred to in the OP-ED by Dr. Daniel Fine can be found here-> http://www.currentargus.com/…/ End
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