It's interesting that people who have previously argued that we should not fight "wars for oil" in our own national interest are willing (1) to commit our national forces and dollars to possibly fighting "wars for oil" for the interests of other countries and (2) that people who who are opposed to U.S. fracking on environmental grounds seem to be totally okay with the status quo of pushing environmental damage off to those second and third world countries who are resource rich but not in the protesters back yards - and condemning others in the world to be dependent on the whims of leaders in Russia and other undemocratic countries.You don't want to fight Iran for attacking Saudi Arabia?
It also behooves Europe and Japan that the U.S., Canada and Mexico develop LNG export facilities to allow the export of natural gas to offset the Russian and Iranian power in using the "oil and gas weapon" against Europe.
The U.S. government should be encouraging U.S. companies to help Poland to explore its shale gas reserves as an offset to the Russians. While the estimated levels of Polish shale gas are fluctuating, there is gas there and it is both Polish and European interests to develop it.
It's not just the U.S. that has the potential to be "sitting pretty" as a result of the the shale boom.
Fine, continue to use the our oil and gas production to continue to inflict economic damage on the Iranians - our crude and NG is perfectly fungible for what Iran produces. The world will little note nor long remember what Iran and its surrogates are trying to do by disrupting the energy flow from the Arabian Gulf. Iran has gone to this well before, but this time the world has moved on from total reliance on Middle East oil and gas. The U.S. can be entirely energy independent of the Middle East.
In fact, it occurs to me that without the infusion of cash from the Obama Administration's Joint Comprehensive Plan of Action (JCPOA) deal with Iran, Iran would be soon be running on empty.
It is also worth noting that due to the wonders of its socialist dictatorship, Venezuela's oil production is not really a factor in the world market right now. If that situation could be reversed, the importance of Middle East energy supplies diminishes even further.
We just need to ride this out.
Oh, and build more nuclear power plants.
In the meantime, it seems demand for product is on a downward trend: