Contrary to what we’ve heard, the United States does not export more oil than it imports. We’re actually far from energy independent. No amount of embellishing government statistics changes those facts. Read more
Once again, an American president has begged, cajoled or hectored the Saudis and OPEC to produce more oil to keep prices low.
Pressure is mounting on the U.S. government to hold Saudi Arabia accountable for the death of American-based journalist Jamal Khashoggi. Our complicated relationship with the kingdom, held together for decades by oil and arms, narrows our palette of options.
“If for some reason that oil weapon becomes a Saudi response, and they may get other friends to join them in responding with an oil effect, the whole world economy could be shaken by a shortage of oil.”
The price of oil reached a record high of $147 on July 11, 2008. Could such a sharp, unexpected spike occur again?
Could the Middle East’s dispute involving Qatar and several of its neighbors lead to higher prices at a pump near you? Absolutely. Read more
Our over-reliance on oil has dangerous consequences. When you pay at the pump, your hard-earned cash isn’t just going to oil companies — it also fills the pockets of terrorists and hostile regimes that harbor dangerous ideologies. Read more
It’s more than you think.