Senator John Cornyn said last week increasing production of crude oil and natural gas in the U.S. minimized the impact of the recent attack on Saudi Arabian oil facilities. Cornyn (R-Texas), member of the Senate Intelligence Committee, spoke Nov. 7 at the Center for Strategic and International Studies. “What was so remarkable about this attack was how unremarkable its impact was globally,” the senator said. “When the world suffered its largest oil supply disruption in decades, its impact was relatively muted. Several factors led to this tiny ripple.” He noted that after the 1973 Arab oil embargo, the government responded by imposing price controls and by banning exports of U.S. crude. But Cornyn added, “Hydraulic fracturing and horizontal drilling have dramatically increased the production of American oil and gas. The shale revolution reversed the tide of the energy landscape in our favor….
“Reducing European countries’ reliance on Russia and other rogue nations for their energy needs isn’t just a win for America,” he continued. “It’s a win for global security. It has allowed us to provide cheap, reliable energy to other countries for their citizens.”