Bert Dirschell
Centertown
Dear Editor:
Where are the European Union nations? Where are the NATO nations? Where is China? Where are the Arab nations who sell oil? UN officials are no doubt busy bribing the dictators who run poverty-stricken nations. Why are we the only nation concerned about the attacks on oil tankers in the Strait of Hormuz and/or Gulf of Oman?
In 2015, about 30 percent of all seaborne-traded crude oil, and over 30 percent of all global liquefied natural gas, went through the Strait of Hormuz. If Iran starts blowing up ships in the Strait/Gulf it will create major energy supply problems for many nations, but we won’t be one of them.
The U.S. is a net exporter of natural gas. A disruption of natural gas shipments would only make our exports more valuable. We currently are not a net exporter of crude oil, but the U.S. Energy Information Administration projects that we will be one by next year. (Thank you, frackers!) In 2018, the U.S. imported 9.93 million barrels of petroleum products per day (mbd) from 86 countries, that same year we exported 7.59 mbd to 190 countries. 43 percent of our imports came from Canada. Saudi Arabia placed a distant 2nd furnishing 9 percent of our imports.
After the 1973 energy crisis, the federal government created the Strategic Petroleum Reserve (SPR). (If you aren’t over 60 years old you probably don’t remember waiting in long lines in hopes that you could buy 5-10 gallons of gasoline.) The SPR, caverns created in deep salt domes, has a 727 million barrel capacity. Within 13 days of a presidential order it can be discharging up to 4.4 mbd. As of June 14, 2017, the SPR held 645 million barrels, an amount equal to over 400 days of imports from ALL Persian Gulf nations. Four hundred days supply if there was no significant uptick in U.S. production, nor a significant decrease in consumption.
Oil production is increasing. In 2018, we produced 10.96 mbd, in 2019 we are projected to produce 12.32 mbd, and by 2020 production is estimated to increase to 13.26 mbd.
Again I ask, why are we the only ones who seem to be willing to risk the lives of our soldiers, and bear the financial cost, of efforts to keep the Strait/Gulf open to shipping?