How Our Government Can Help and Reasons It Should Successful oil sanctions against Russia will cause less harm to the world economy if U.S. oil production ramps up. Unfortunately, the U.S. response to high oil prices has been slow and cautious. To meet needs in Europe, the U.S. may need to consider financing support for independent wildcatters in mid-continental oil fields to accelerate U.S. oil production. The still-unexplained spike in oil prices on July 3, 2008 had momentous impacts on U.S. oil production. The high prices spurred innovation in three areas – discovery, access and extraction. Put more colloquially, supercomputers…
Author: Robert McCullough
Robert McCullough
Robert McCullough, an economist and former electric utility executive, founded McCullough Research in 1985, providing advice and expert testimony about energy markets and regulation. He also teaches energy and regulatory economics at Portland State University in Oregon.