Things are getting ugly and some think they can plug the market. The US should not play a mini OPEC in its own right. It should not intervene in its internal market. It should show the world that it cares about their own produces and by now, the world should have understood that being self-sufficient has a price but it also has value. Think about having all your medication and medical equipment ready when a new virus hits you – no begging from other countries necessary. Thats no less valuable a capability in oil and energy. A Border Adjustment Tax would preserve the internal market and give US produces a lifeline. Reduce income tax by an equivalent amount and Americans have a counterweight to play with.
The Trump administration is considering paying U.S. oil producers to leave crude in the ground to help alleviate a glut that has caused prices to plummet and pushed some drillers into bankruptcy.