ABSTRACT
The new technologies of the shale revolution recently caused U.S. domestic oil production to soar. Still because the United States remains a major oil importer, disruptions to oil supplies overseas, whether caused by political instability, war, or competition from other major consumers like China, could hurt Americans by creating sudden spikes in the price of oil. Many strategists conclude that the United States has a national security interest in using its military to protect against such threats; others argue that protection for the oil market is one of the global public goods that the United States must provide as part of its hegemonic leadership in international affairs. These arguments are built on a misunderstanding of the global oil market and global public goods. Under a grand strategy of restraint, the United States would still provide the relatively easy, low-cost protection for trade in the global commons, including energy trade, but would not intervene in specific oil-producing countries or use its military to try to influence their international political and military relationships with other consumers. Restraint would maintain U.S. and global energy security while avoiding needless, costly international conflict.
