The Spectacle Blog
Oil is (mostly) fungible. It's not that much of a simplification to say that consumption of any oil enriches everyone who has oil to sell. Of course, this mean that cutting into Middle Eastern oil wealth is a lot harder than a lot of people realize. A reduction in US consumption would put downward pressure on oil prices and hurt petrocrats' revenues, which is good. But the OPEC cartel is designed to support prices, and wouldn't sit still in the face of falling demand. Really, a post-petroleum economy is the only way to permanently break OPEC.
View all comments (1) | Leave a comment
Leave a Comment
Related Blog Posts
More Blog Posts by John Tabin
http://spectator.org/blog/2006/01/31/re-reduce-dependence-on-middle
Follow us:
ADVERTISEMENT
SPONSORED LINKS
Special Feature
Better that we become a nation of choosers rather than beggars. Our symposium on choice from the May, 2012 issue:
FLASHBACK TO: 1984
-
The Fairness Delusion
The speech our President should make.
-
Media Smears: One Man’s Experiences
A noted economist fires back.
-
Chuck Colson vs. The Fundamentalists
How political can you get?
-
The Reagan Doctrine
You might have missed it, but it was boomed in January.
-
The Woman Problem
Farcical feminism is a decades-old phenomenon, as George Will's essay from 1970 reminds us.
Clip of the Day
ADVERTISEMENT
sidnee| 12.10.09 @ 5:03AM
adidas adicolor shoes
adidas classic shoes