To the Point
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.
By Jim Sterngold • • 1 min readA 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?
Jim Sterngold
Wall Street Journal
Christian Bordal
Managing Producer, Greater LA
Sonya Geis
Senior Managing Editor
Karen Radziner
Managing Producer, To the Point & Which Way LA?
Anne Korin
Institute for the Analysis of Global Security
Aaron Friedberg
Professor of Politics and International Affairs, Princeton University
Kenneth Rogoff
Harvard University