Attack on Saudi Oil Poses Little Threat to U.S. Economy
The attack Saturday on critical Saudi Arabian oil production facilities sent the price of crude oil soaring but it is unlikely to weigh on the U.S. economy in the way that past trouble in the oil-rich region might have.
Thanks to a massive increase in domestic shale oil production and huge fuel efficiency gains, the U.S. is no longer as dependent on foreign oil as it once was and higher oil prices are no longer necessarily bad for the U.S. economy.-- More...
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