Stand up to Iran’s oil market terrorism
The following is an excerpt:
Looking ahead, there are three main lessons to learn from Saturday’s attack. First, Saudi Arabia’s critical infrastructure is vulnerable, a weakness common to many other oil installations around the globe. Many of these installations are operated by commercial companies, whose coordination with government defense and security forces is often quite poor.
Second, even though it has rapidly risen to become the world’s top oil producer, the U.S. is not immune to the effects of higher oil prices, including a possible global recession. American oil-producing regions like Texas, North Dakota, and Pennsylvania among others will get an economic boost from the price surge, yet many Americans will be worse off. Sustained high oil prices frequently trigger recession. The only factor that has held the oil price from jumping even higher seems to be the weak global demand for oil, itself a sign of a potential emerging recession.
Third, the attack underscores a reality too often ignored by President Trump: only the U.S. military can guarantee the free flow of Middle Eastern energy to the global market. Washington’s allies can and should do more to help, but American forces are in a class of their own. Plus, taking the lead is in America’s interest, because a global recession will hit the U.S. economy hard.
Read Mark and Brenda’s piece for the Washington Examiner here.