ASSOCIATED PRESSThe importance of explosions targeted at Saudi Arabian oil infrastructure should not be exaggerated, but not downplayed either. Unfortunately, the shale boom, which has nearly made the U.S. independent on oil imports, suggests to many that we are “energy independent” and don’t need to care what happens in the Mideast oil sector. Nothing could be further from the truth, which emphasizes the many myths surrounding energy security, most especially the common obsession with volumes or barrels. Especially in Europe, some governments sought to ensure they had adequate supply for industry and the public regardless of cost (or diplomatic concessions). But we shouldn’t think we’re isolated from the world oil market: we’re better off now than when imports passed 60%, but it’s a matter of being safer not safe.

Source: Forbes May 15, 2019 09:22 UTC