Although prices are elevated, US oil production has been increasing year on year and will increase again next year. The US will use all tools to step into the supply breach and keep prices down, preventing the $150 scenario, which should pressure crude prices.
The US is sharing nuclear technology, including gigawatt-scale reactors and new small modular reactors; SMRs turn reactor construction into a routinized manufacturing process with declining costs, and the diverse American SMR fleet should be globally dominant and a game changer for Asian energy demand.