Even after Saudi Arabia acknowledged Jamal Khashoggi’s death inside its consulate in Istanbul, many questions remain.
President Donald Trump has most recently said he is not satisfied with the Saudis’ response and lawmakers are pushing for sanctions.
There are concerns Saudi Arabia could retaliate by cutting off oil supplies to the United States, which would drive up prices.
Todd Staples, president of the Texas Oil and Gas Association, doesn’t sound worried, saying there is not much the industry can do about international politics.
“We know that if we can build the pipelines we need, we can expand our port capacity, that no matter what really happens around the world, we’ll be well positioned as an industry to continue to meet the needs of our citizens right here at home and continue to play a more stabilizing role in the national landscape,” he said in an interview at TXOGA’s Lone Star Energy Forum in Houston Monday.
Saudi Arabia’s energy minister has now said that there is no intention to cut off oil supplies, giving the industry some breathing room – at least for now.
