There is always tension between suppliers and consumers of any product. But, when they are national strategic assets like oil, that tension takes on an extra dimension. The US has a particularly unique position in that face-off, being both the world’s largest producer of petroleum and the largest consumer. In fact, lately, the US has gone from being a net exporter to a net importer of petroleum. When the world’s only superpower switches sides in the equation, that changes the market dynamics of oil. The situation was underscored a couple of days ago when the US Secretary of Energy Granholm tweeted about ensuring ... (full story)