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How the oil boom could change U.S. foreign policy

Posted on 17 January 2014

The United States is suddenly awash in crude oil. From 2008 to 2013, domestic oil production rose by 2.5 million barrels per day — the biggest five-year increase in the country’s history. Last year, U.S. produced more oil than it imported for the first time since 1995.
So what does that mean for the rest of the world? Or for U.S. foreign policy? Well, for starters, it probably doesn’t mean that Americans can now safely ignore the Middle East. The U.S. economy is still heavily reliant on oil, and prices are still largely swayed by what goes on in the global markets………………………………………..Full Article: Source


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VRS - who has written 36568 posts on Opalesque Commodities Briefing.


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