Robert P. Murphy, author of The Politically Incorrect Guide to Capitalism, discusses his article “Who Needs War for Oil;” why the US military doesn’t need to intervene in the Middle East to “secure” supplies of oil; how embargoes hurt oil exporting countries more than their customers (shown by the US-supported embargo on Iran); and the contrarian theory that oil scarcity and higher prices are the true US policy goals.
MP3 here. (20:13)
Robert P. Murphy is an adjunct scholar of the Mises Institute, where he teaches at the Mises Academy. He runs the blog Free Advice and is the author of The Politically Incorrect Guide to Capitalism, The Politically Incorrect Guide to the Great Depression and the New Deal, and his newest book, Lessons for the Young Economist.