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Khashoggi affair exposes myth of US energy dominance
Op-eds & Essays by Jason Bordoff • October 29, 2018
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Khashoggi affair exposes myth of US energy dominance
Op-eds & Essays by Jason Bordoff • October 29, 2018
In his latest op-ed in The Hill, Jason Bordoff argues that the recent speculation about disruptions in oil supply from Saudi Arabia, even if highly unlikely to materialize, are a reminder that no matter how much oil the U.S. produces or how little it imports, in a global market prices at the pump will still spike if there is a disruption in any global oil supply. Bordoff argues, “the best way to reduce the risk to consumers at the pump from global oil supply disruptions is to reduce how much oil we use in the first place” through policies like higher fuel economy standards and alternative fuel R&D, and he criticizes Congress for selling off strategic oil stocks “in the misguided belief that the shale revolution insulates us from geopolitical risk to oil.”
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