The Great Oil Fallac(ies)
April 30, 2013 7:14 AM Subscribe
Does the US have a national interest in securing Middle Eastern oil? Economist John Quiggin thinks not, and argues that oil is a commodity like any other. Other scholars have questioned the conventional wisdom surrounding oil. Timothy Mitchell says that the problem with oil is not its scarcity, but its abundance, and we simply have too much oil. Eugene Gholz & Daryl Press argue that "American national security policy is based on a misunderstanding about U.S. oil interests. Although oil is a vital commodity, potential supply disruptions are less worrisome than scholars, politicians, and pundits presume."
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