Event Recap: A Discussion of the Oil Price War with Admiral Dennis Blair
On April 9th, American Security Project’s Chief Operating Officer Andrew Holland hosted Admiral Dennis Blair, USN (Ret.) for a webinar discussion of the ongoing oil price war between Saudi Arabia and Russia. They discussed the oddity of a U.S. President asking for higher oil prices, how to fix the broken global market for oil, and how developing alternative energy sources is a net positive for the U.S. and the world.
Admiral Blair emphasized the importance of legislative action to stop what he called “price whipsaw” in oil markets. The global oil market, according to Admiral Blair, is not a free market, but rather a market subject to the whims of whatever is best for the Saudi royal family and Vladimir Putin. He suggested that the U.S. Congress should pass the No Oil Producing Exporting Cartels Act, or “NOPEC”, that would allow the Department of Justice to treat foreign state industries as cartels.
Electric cars, besides being helpful for reducing U.S. reliance on foreign oil, also contribute to the decarbonization efforts integral to the fight against climate change. In reference to steadily increasing sales of electric cars in the U.S., Admiral Blair remarked “what’s good for the environment is good for national security.”
Watch the recording of our event with Admiral Blair here.
