Reducing Global Energy Turmoil with Fracking

Earlier this month, when President Trump pulled out of the Iran nuclear deal, analysts warned that Iran’s crude oil production and exports could decline, forcing crude oil prices up. Call it “turm-oil” in the energy markets.
For example, Time magazine quotes PIMCO Executive Vice President Greg Sharenow: “The consumers are going to shoulder the bill. The U.S. economy will face headwinds from prices that will come as a natural result of this.”
Maybe, but likely only in the short term.
While it remains to be seen whether this shortage will materialize, one thing remains clear: The recent U.S. gas and oil boom will help fill any impending gaps in the global energy supply.
Thanks to hydraulic fracturing, U.S. crude oil production should grow to help meet or exceed demand over the long term, which means prices will likely stabilize at a reasonably affordable price.
President Obama imposed economic sanctions on Iran in 2012, and it

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