Why an Oil Embargo Won't Work

The Arab summit, the the summit in Riyadh, that they rejected the idea of imposing an oil embargo, which is something that a lot of people think would be like a magic power move that would settle the whole thing, that would just end the conflict overnight. The United States is a net exporter of oil as the leading exporter of liquefied natural gas. They can produce enough now for their own domestic consumption. This isn't the nineteen seventies. The Arab world's biggest importer of oil is China, not The United States, not the West.

Now Europe would be affected by an oil embargo, but The United States has no problem with that. No. An oil embargo would just drive up the price of oil, which would punish China for no reason unless the the Arab world decided to sell to China, sell oil to China below market rate. But that would just make The United States richer and it would be less beneficial and advantageous to the others. I mean, think it through.