U.S. Doesn't Understand the Oil Market: IHS Markit's Yergin

The transcript discusses the debate over banning US oil exports and its potential impact on global markets, including price shocks and supply chain disruptions. It explores US energy policy options, such as the Strategic Petroleum Reserve (SPR), and the role of OPEC Plus in maintaining oil supply. The discussion also covers the forecast for the oil market in 2022, highlighting potential supply shortfalls and the impact of global growth on oil demand.

What are the potential consequences of banning U.S. oil exports according to the discussion?

How does the U.S. energy secretary characterize the options available for addressing energy policy?

What is the significance of the SPR (Strategic Petroleum Reserve) in the context of U.S. energy policy?

What are the implications of the tightness in the global oil market as discussed in the text?

How do the views of OPEC Plus influence the U.S. approach to oil production and exports?