Earlier this spring, an invitation-only briefing on Capitol Hill gave congressional attendees a disturbing glimpse into a high-tech research race that is spawning dangerous new weapons, delivery systems, and supporting technologies. It is a contest where China is forging ahead, shrugging off suggestions of restraint.
Notwithstanding newly won status as the world’s largest global oil producer, America’s sway over the global oil market remains incomplete and weak. Worse, it’s reactive, driven above all by politically touchy pump prices. In energy security, the focus continues to be on oil, yet a switch to electric propulsion offers a way out.
Two grim words — ‘hollowed out’ — routinely surface when we speak about America’s once formidable industrial and manufacturing prowess.
The U.S.-Saudi relationship is growing paradoxically both more contentious and more collaborative. What does that mean for the oil industry?