Saturday, July 20, 2013

The Oil Boom’s foreign Policy Dividend

By John Hannah and Nouriel Roubini
July 19, 2013

 The domestic benefits of the U.S. oil production boom are well documented — everything from the creation of high-paying jobs to sending less money to foreign oil producers.

Less well appreciated are the geopolitical benefits. U.S. oil production has already paid foreign policy dividends in at least one vital area: It has paved the way for stronger sanctions on Iran by helping to keep the global oil market well-supplied and minimizing oil price volatility.

This development is timely and instructive.
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