But Rosemary Kelanic, director of the Middle East Program at the libertarian-leaning Defense Priorities think tank, said the administration’s confidence that normalcy is just over the horizon is keeping American oil companies from producing more. Why, they say, invest in production when the war is about to end. The problem is if the war doesn’t end very soon there won’t be enough oil for the world, she said.
“By talking down the market so effectively, when the price spike becomes inevitable, it’s going to hurt way worse because we’ll have lost weeks or even months of time where producers could have been ramping up output,” she said.
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