What the U.S. Can Do to Combat Rising Energy Prices. Just Turning on the Taps is Not an Option.
“War and oil are inextricably linked. World War I launched the modern oil age, turning a little-used fuel into the engine of the 20th century. World War II remade how oil was transported, as newly developed pipeline technology helped crude-oil carriers avoid the Nazi submarines lurking in the Atlantic,” reports Avi Salzman in Barrons.
“Now, a new war in Europe has shaken the world. The U.S. isn’t sending troops, but its oil and natural gas are weapons in a financial war against Russia. The solution seems easy: turn on the taps again; beat the bad guys. Citigroup predicts that hydraulic fracturing, or fracking, may soon become a patriotic duty, with roughnecks.”