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Some say the U.S. Should Hoard its Oil

Some say the U.S. Should Hoard its Oil

The U.S. is expected to surpass OPEC as the world's top oil exporter in a few years. Some say we should keep a lot of that oil here to end our dependence on foreign fuel sources. But energy industry experts say that's not a good idea.

Phil Flynn of the Price Futures Group says that won't please our allies.

 

"If OPEC said 'hey guess what we're gonna keep all this oil for ourselves' we'd be up in arms, right?"

 

Flynn says that would hurt the world economy and since it's all connected that would come back to bite us.

"The best way to create the market and give the U.S. a strong advantage is to have a free flow of energy."

Flynn says the best way to create future jobs in the energy industry is to keep the oil flowing.

"If you're disrupting supply; yeah, we might make a lot of money in the short term and our gas prices might be cheap in the short term but the global economy might suffer."

 

 

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