A strategic opportunity despite Obama's opposition to drilling
Obama was dead wrong about drilling our way to lower prices and he is also dead wrong about the Keystone XL pipeline which would make it easier to completely replace oil imported from Venezuela that props up a despotic regime. The Canadian oil would be enough to not import a drop from Venezuela, yet Obama irrational opposes the pipeline to pander to the anti energy left. He has never shown any strategic insight when dealing with energy and is only coming around to taking advantage of the opportunity created by drillers in Texas and North Dakota.
A plunge in oil prices has sent tremors through the global political and economic order, helping the United States but pushing several big oil-exporting nations to the brink of financial crisis.