U.S. Signals It Still Depends on Cheap Oil From Abroad
After a year of head-spinning volatility in American petro-diplomacy, a reversion to normal is under way. The US wants cheap oil again.
“The United States has core interests in the stability of the global economy and that means the US administration — no matter how they might want to avoid thinking about oil — has to worry about oil prices being too high or being too low,” said Amy Myers Jaffe, a professor at Tufts University’s Fletcher School of Law and Diplomacy.