Yes Jimmy Carter was upended on the Arab oil embargo over Israel and the Yom Kippur war of 1973. The Iranian Hostage crisis actually did the deed, but lets move on to our main subject
But lets step back and see what the conditions are today.
Let’s start with some numbers. The United States currently uses about nineteen million barrels a day, of which about eleven are imported, mostly from within the Western Hemisphere. Imports from the Persian Gulf supply about 15 percent of total U.S. oil demand, a share that has declined over time.
Imports from the Persian Gulf cost $73 billion in 2011, of which Iraq received around $20 billion. So, if the multi-billions dollar Iraq war really was a “war for oil,” it was exceptionally ill-advised.
Consumption of oil per person in the USA has been declining since about 1980. At least as far as the United States is concerned, Peak Oil is an event in the past, not the future.
The real issue is transportation fuel, which is mostly gasoline. Moreover, while oil is a very convenient fuel for many purposes, there are few for which it is essential. Cars can run on liquefied natural gas, ethanol or biodiesel, not to mention electricity. Coal gasification, otherwise known as Bush’s Clean Coal initiative is also in the mix, but it is primarily an electricity production ingredient. High prices have already led to the abandonment of oil in many uses for which it was once the preferred fuel, such as electricity generation.
One of the most overlooked transport fuels is natural gas. Which can easily be converted to liquid fuel. The major advantage of natural gas use is as a feed stock for liquid fuel production it leaves behind almost all the pollution causing ingredients in natural oil. Some of the most pure form of hydrocarbons is “synthetic” oil, is made out of natural gas for just that reason.. Kuwait was the latest to do this with the excess natural gas coming out of their oil wells. Beats burning it off.
And with our new horizontal drilling and fracking technology we are finding large quantities of natural gas, almost everywhere.
Coal Gasification just converts coal to natural gas, but gives a by-product which must be disposed of, ash. So natural gas it is. I recently wrote several posts about the USA gas boom. Which Obama and his EPA are hell bent on stopping, for non-science reasons I would add.
And now nations around the wolrd are seeing America as the next powerhouse of fossil fuels. Except of course the nut ball Obama.
Americans did do that!!!