[...] a world that doesn't need oil may also be a world that doesn't need the United States. (Paradoxically, this dysfunction does a better job than opec at restricting supply to the market.) These factors, combined with political instability and volatility in many of the exporting countries, seem to guarantee a replay of the 1970s oil shocks. [...] both countries have turned inward in response to the declines in their fortunes.
Oil Dependence as Virtue Daniel W Drezner The National Interest; Nov/Dec 2008; 98; Docstoc pg. 8 Reprodu
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