All that would do is create two markets. If our demand went up our prices would rise. The rest of the world would continue to be awash in excess supply. We would have $50 per barrel oil and say the EU would have $25 per barrel. It would be a virtual subsidy coming out of your pocket.It would also hasten the demise of the dollar as the currency of choice and lead to much higher inflation. Everything would cost more if we lost our reserve status and i;m not even discussing the probable retaliatory measures from other producers.
Great analysis. People forget Saudi oil is light, sweet, easy to refine. Just to line Wall Street pockets... How about not just not no.
And how did that deal with the Devil that Kissinger made really work out for us in the long run? The blood and national treasure lost? I am sorry to be in a cranky mood here, but in anything in that region worth spending any time or energy on, just walk away and do our own thing divorced from their dysfunctionality.