Oil Industry Deserves to Compete on Its Merits

Subsidies are always the wrong way. They distort the market. But there should be measures to counteract state predators that don’t care about market mechanisms and pay no heed to them. They can afford to hold their countries and populations hostage to inflict pain and they should be shown what happens when you mess with the free world. North America should impose a border adjustment tax on all imports depending on the relationship it has with the country of origin. That preserves market mechanisms and works the same for everyone. And it avoids the government picking winners. We really don’t want that.

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