Terrorism and the Global Oil Markets, Hearing Before the Committee on Energy and Natural Resources, United States Senate One Hundred Fourteenth Congress, First Session, December 10, 2015   [open pdf - 6MB]

This is the December 10, 2015 hearing on "Terrorism and the Global Oil Markets," held before the Committee on Energy and Natural Resources. From the opening statement of Lisa Murkowski: "More than half of global oil production occurs in regions of the world, whether it is the Middle East, Africa, Russia, Venezuela, that are subject to instability of various kinds including civil war and terrorism. Oil production in certain countries such as Iraq, Syria, Libya, Yemen, Sudan, has been knocked off line due to terrorism and related violence. The indisputable fact that we are dealing with is that North American barrels have largely replaced this disrupted production so far. In tandem with the machinations at OPEC, the global oil supply is simply saturated and may be for quite some time to come." Statements, letters, and materials submitted for the record include those of the following: Keith Crane, Peter Harrell, Sara Vakhshouri, and Jamie Webster.

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