ASP Senior Fellow Andrew Holland was recently quoted in a piece for the Washington Examiner by Zack Colman. The article argues that the global oil geopolitics will be little affected by the latest oil price reduction as a result of the U.S. energy boom.
Noting that the U.S. supplies amount for only 10% of the global oil market, Holland cautions:
There is a lot of implications for U.S. geopolitics, but we shouldn’t overstate it.
He further explains the domestic impact of the increasing U.S. oil supplies:
The recent increase may be more psychologically important than the percentages. With greater production, policymakers ‘feel’ more secure, and so are more confident about taking action with oil powers (whether it’s sanctions on Iran, bombing Iraq or even standing up for Ukraine against Russia) than we would have been only five years ago when we weren’t producing all this oil.
To read more about the effects of U.S. energy boom on global oil geopolitics, be sure to read Colman’s piece at The Washington Examiner.