Oil companies have the same response to Ukraine and Russia as they do in every crisis: Drill more. But this time, nobody is fooled.
Oil tanker trains at Kombinatskaya station in the Omsk region of Russia
Alexey Malgavko/Sputnik via AP Images
It didn’t take Big Oil long to try to exploit the tragedy in Ukraine for corporate gain. Like clockwork, the industry and its apologists have dusted off the old energy independence chestnut in hopes of sinking the nation into a deeper dependence on oil.If energy independence is a strategic goal, though, why is the industry exporting 8.4 million barrels of crude oil and refined fuels out of the United States each day, nearly three times more than just a decade ago? Would an industry that cares about energy independence really be…