An increase of American crude oil in the global market place likely diminishes the influence of other exporting nations by weakening their market share. Assuming demand remains constant, greater volumes of crude oil from stable suppliers, such as the U.S., grants more power to importing countries over potentially manipulative suppliers by offering steady diversification options. This could have significant effects on the way American allies around the world secure their supply deals. With a number of American allies highly dependent on potentially manipulative suppliers (93% of Poland’s imports came from Russia in 2014), the U.S. can play a vital role in the geopolitics of the global crude oil market through the addition of domestically produced supply.
Episode 33: This Week in Immigration
Budget and Economics, Immigration