"The domestic benefits of the U.S. oil production boom are well documented — everything from the creation of high-paying jobs to sending less money to foreign oil producers.
Less well appreciated are the geopolitical benefits. U.S. oil production has already paid foreign policy dividends in at least one vital area: It has paved the way for stronger sanctions on Iran by helping to keep the global oil market well-supplied and minimizing oil price volatility.
This development is timely and instructive." - in Reuters Blog (an excerpt from The oil boom’s foreign policy dividend
By John Hannah and Nouriel Roubini)
Related ETFs: United States Oil Fund ETF (USO), Energy Select Sector SPDR ETF (XLE)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.