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FROM THIS EPISODE

Oil prices are hovering near $100 a barrel, hurting U.S. consumers but sending hundreds of billions of dollars to unfriendly countries like Venezuela and Iran. How is the U.S. economy coping? Can the U.S. ever cut its oil dependence?


Photo from L-R: Venezuelan President Hugo Chavez, Iranian President Mahmoud Ahmadinejad and Saudi King Abdullah bin Abdul Aziz al-Saud attend the OPEC meeting in Riyadh, 17 November 2007

Photo Credit: Hassan Ammar/AFP/Getty Images

Producers:
Christian Bordal
Sonya Geis

Main Topic High Oil Prices Shifting Global Wealth and Power

A decade ago, oil prices hovered near $20 a barrel and national security experts talked about missiles not pipelines. But the war in Iraq, instability in the Middle East and soaring energy demand have made oil an unsettling global issue. Today, as the US finds itself competing with China to lock up new oil supplies, oil prices hover near $100 a barrel, hurting US consumers but sending hundreds of billions of dollars to Venezuela and Iran, which have become major irritants to Washington.  How is this flood of petro-dollars affecting American security? How is the US economy coping? Can the US ever cut its oil dependence? How have surging oil prices rearranged global politics?

Guests:
Anne Korin, Institute for the Analysis of Global Security
Aaron Friedberg, Professor of Politics and International Affairs, Princeton University
Kenneth Rogoff, Professor of Economics, Harvard University
Philip Verleger, Peterson Institute for International Economics

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