ALBUQUERQUE, N.M. (AP) — Oil drilling companies and royalty owners from the Texas Panhandle to New Mexico's stretch of the Permian Basin are embarking on a grass-roots campaign to limit foreign oil imports, salvaging what they say is a major sector of the U.S. economy. "American oil is competing against a cartel of government operators which has a stated initiative of driving an American industry out of business," said Tom Cambridge, one of the Panhandle producers leading the campaign. The grass-roots movement is pushing for the next president of the United States to issue a proclamation setting quotas for imports — something that hasn't been done in more than four decades. "It's not that this is the first time but this is a more concerted, deliberate effort and I think it's gaining ground," said John Yates Jr., a member of a well-known family that is a leader in the industry and has over the last century developed some of New Mexico's largest and most significant oilfields. Under the plan unveiled by the Panhandle Producers and Royalty Owners Association and other supporters, import quotas could be imposed within the next administration's first 90 days in office.Read more on NewsOK.com
Texas, New Mexico Oil Producers Push For Import Limits
NewsOK.com RSS - business, Daily Oklahoman: Business
Tue, 04/19/2016 - 3:40pm
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