Iraq Crisis Should Make Us Thankful For America’s Oil Boom

Posted by Slate: None Given on June 21st, 2014
Slate: But the quiet response is also a sign of something bigger. It's a subtle demonstration of how North America's fracking-fueled oil boom is paying dividends by making the world market more resilient. Energy traders always add a fear premium onto oil. When instability (a raging civil war, for instance) hits a major petro-producer, prices race up, as buyers start to fret about potential nightmare scenarios that would cut off their supply. In the case of Iraq, that might mean attacks on pipelines or......

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