The Myth of an Oil Shock

Will a Middle Eastern oil disruption crush the economy? New research suggests the answer is no—and that a major tenet of American foreign policy may be fundamentally wrong.

Scholars examining the recent history of oil disruptions have found the worldwide oil market to be remarkably adaptable and surprisingly quick at compensating for shortfalls. Economists have found that much of the damage once attributed to oil shocks can more persuasively be laid at the feet of bad government policies. The U.S. economy, meanwhile, has become less dependent on Persian Gulf oil and less sensitive to changes in crude prices overall than it was in 1973. These findings have led a few bold political scientists and foreign policy experts to start asking an uncomfortable question: If the United States could withstand a disruption in Persian Gulf oil supplies, why does it need a permanent military presence in the region at all?

Scientists claim the Bible is written in code that predicts future events

The controversy around the Torah codes gets a new life.

Michael Drosnin
Surprising Science
  • Mathematicians claim to see a predictive pattern in the ancient Torah texts.
  • The code is revealed by a method found with special computer software.
  • Some events described by reading the code took place after the code was written.
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How to vaccinate the world’s most vulnerable? Build global partnerships.

Pfizer's partnerships strengthen their ability to deliver vaccines in developing countries.

Susan Silbermann, Global President of Pfizer Vaccines, looks on as a health care worker administers a vaccine in Rwanda. Photo: Courtesy of Pfizer.
Sponsored
  • Community healthcare workers face many challenges in their work, including often traveling far distances to see their clients
  • Pfizer is helping to drive the UN's sustainable development goals through partnerships.
  • Pfizer partnered with AMP and the World Health Organization to develop a training program for healthcare workers.
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Orangutans exhibit awareness of the past

Orangutans join humans and bees in a very exclusive club

(Eugene Sim/Shutterstock)
Surprising Science
  • Orangutan mothers wait to sound a danger alarm to avoid tipping off predators to their location
  • It took a couple of researchers crawling around the Sumatran jungle to discover the phenomenon
  • This ability may come from a common ancestor
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