[On the Saudi oil attack and rising oil prices] [This is] not as economically damaging as it would have been in the past. The most important thing that’s happened since the 1970s and 1980s is that U.S. oil production has completely taken off. The U.S. is now the world’s largest oil producer.
[On the drone strikes on a Saudi Arabian oil facility] We saw a quick increase in [gas and oil] prices because folks weren’t certain where their next barrel was going to come from. They weren’t sure how bad the damage at the facility was, how long it was going to be offline.
[On the effects of the attack on a Saudi oil facility on oil markets] The Saudis are still the indispensable country in oil markets. They’re still the world’s largest exporter. Even though the US produces a lot of oil, we’re still connected to global markets. Things that happen in the middle east or in other places can still affect us even though we have a lot of oil here. A disruption in Saudi is still really important to global oil prices. And prices that U.S. consumers pay are still based on global oil prices. We don’t get any sort of special deal.