“Libya’s oil output has crashed to a near standstill over the past year as warlords and strikes paralyse the country, tightening the screws on global crude supply as the crisis in Syria comes to a head. There are still pockets of rising oil output, notably in the US where shale oil is rapidly reducing US dependence on energy imports. The geo-strategic effect of shale is double-edged for the US: it lowers the incentive for Washington to commit forces to the Middle East, but it also means the US is better able to handle the consequences of any oil spike. The biggest losers would be those emerging economies such as India and China that rely on fuel imports and operate inefficient industries.”
Related posts:
All Ears: Always-On Listening Devices Could Soon Be Everywhere
Puerto Rico announces education overhaul with vouchers and charter schools
U.S. calls on UN to ban drunken diplomats from budget negotiations
CIA Begins Weapons Delivery To Syrian Rebels
The smoking ban killed the British pub: Labour's defining legacy
Allentown PA Subway Accepts Digital Currency Bitcoin
America's tactical interests cannot dictate Britain's sovereign destiny
Rep. Grayson: 'We Are Not The World's Policemen, Judge, Jury, Or Executioner'
Marines, sailors to 'invade' Jasper County for training mission
India takes drastic steps to defend rupee as global Fed shock deepens
Holiday in Thailand could end for expats
American-Style Start-Ups Take Root in India
1,000 bank workers march on Cyprus’ presidential palace to protest bank restructuring
Iran Receives 13 Tons of Gold in Sanctions Relief
Oakland citizen activist says city worker assaulted him