Oil production disruptions should be viewed as a potential sign of political instability in foreign countries, according to a report from Sen. Lisa Murkowski (R-Alaska), the ranking Republican on the Energy and Natural Resources Committee.
The report, released Monday, concludes that sustained levels of oil production outages in foreign countries and regions “may constitute a degree of strategic warning to policymakers that attention is required, and ultimately are a reminder that record-breaking increases in North American oil production can enhance national security and stabilize global markets.”
As an example, Murkowski said that energy reporting “clearly pointed to Iraq’s deteriorating security years before the current collapse.”
The report also points out that other examples of sustained losses in oil production have occurred in conjunction with violence in Yemen, Libya and South Sudan; with pipeline sabotage in Colombia and Nigeria; and with sanctions against Syria and Iran.