PKVerleger: Oil May Fall to $35 Without OPEC, Border Tax

The video discusses the potential impact of a border tax on domestic oil prices, highlighting how it could lead to a 25% increase in domestic prices and shift the focus of producers to the U.S. market. It explores the pricing power of refiners and the market dynamics that could result from these changes. The video also examines the current state of oil inventories and the potential for a significant market sell-off if the border tax or OPEC actions fail. Finally, it considers the political influences on the oil market, including the possibility of the President imposing fees on imports under the Trade Act.

What factors contribute to the pricing power of refiners in the context of the discussed border tax?

What concerns do members of Congress have regarding the border tax and gasoline prices?