IADC: Market realities said to bolster Middle East ties

Calls for oil importing countries—particularly the US—to reduce their dependence on Middle East oil by securing their supplies elsewhere or by switching to other fuels don't jibe with reality, a top industry analyst told the International Association of Drilling Contractors annual meeting late last month."We have to be realistic. There are just certain basic realities, and even if we could change those realities here in the US, we're in a global market," said Amy Myers Jaffe, senior energy advisor and project coordinator for energy research at Rice University's James A. Baker III Institute for Public Policy, Houston.With international markets driving energy prices ...

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