""Anybody who follows the oil industry will tell you that it doesn't make any difference where the oil comes from," says Keith Crane, an energy expert at RAND Corp. Global oil markets are so intertwined, Crane says, that changes in any one part of the system can trigger effects elsewhere. He points out that the U.S. has imposed sanctions on Iran and therefore does not import its oil. But "if Iranian oil goes off the [world] market, it still affects the price in the United States," Crane says."
Oil

January 1, 1970

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