If we stop paying for the protection of ME Gulf States’ oil distribution routes and let the true cost of that be borne by the market, the true price of energy would be transparent to the consumer and prices would increase significantly.
We’re paying for it now, it’s just hidden in our tax bills. This means the price difference is going to Washington instead of domestic oil producers.
I see that as a security issue. Would not do to allow Russia or Iran to take over control of all that oil. Could be we need more security payments from those we protect, though.