CSIS Senior Fellow Ben Cahill on Energy Security

The video discusses Europe's urgent need to reduce dependence on Russian gas and oil, outlining plans to secure alternative energy sources. It highlights the challenges in the tight LNG market and the potential competition with Asia. The impact of possible sanctions on Russian oil is examined, noting the difficulty in compensating for lost output and the risk of demand destruction. The potential role of an Iran deal in stabilizing the oil market is also explored.

What factors contribute to the fear and uncertainty in the oil market?

What potential impact could high oil prices have on consumer behavior in the United States?

How might a deal with Iran affect the global oil market?