Late this afternoon, oil prices jumped $10 per barrel based on reports that Shiite protestors have attacked an oil pipeline in eastern Saudi Arabia.  While the Saudis deny Iranian reports of an explosion, one thing is clear: the United States is exceptionally vulnerable to a disruption of its foreign oil supply.  A series of similar problems could critically damage the fragile economic recovery.  This is just the latest in a long history of clear signs that it is past time for the United States to develop a comprehensive energy strategy for its transition away from expensive, unreliable foreign oil toward domestically innovated and produced alternative energy sources.  If not, the nation will continue to be threatened by crises that otherwise do not pose an existential threat to the American people.

Comments (0) · Leave a Comment

There are currently no comments.