The US fascination with Iran is coal and gas. If the resources were missing, it is difficult to imagine a US priority on the nation since the time of the United States. In 1953 until today, the Central Intelligence Agency endorsed the coup by the elected government.
That ought not to be shocking. By 1953 Iran was a petroleum power and it remains one. Iran is expected to have the world’s third-largest petroleum reserve and its second-largest reserve of natural gas. Although the numbers quoted are somewhat exaggerated, Iran’s reserves are not low and for many years to come, Iran will play a major role in world energy markets.
Iran’s focus on America and its global military, intelligence (covert and otherwise) and diplomatic operations have turned out to be just a mirror image of Iran, a global intelligence and allies ‘ network that Iran uses to strike against the United States and its allies.
Net US crude oil imports fell 15 years before to approximately 3 Mbpd today from 10 million barrels per day (Mbpd). And the United States exports approximately 3 Mbps of refined petroleum products due to its huge refining capacity. While the US remains connected to global markets, the United States is considerably less dependent than in the past on international sources of oil.
Others who started to examine the data closely believe that the shale promise has been overshadowed by industry. And now, investors have recognized that over the last decade the shale industry has only depleted its resources and, since mid-2019, lost 80% of its market value.
In short, financially or technologically the shale boom is not sustainable. The “miracle” technology that has not previously provided oil and natural gas has never made the business as a whole competitive. Ever since investors only finance those few players and the few perspectives which can make money, this is finally shown in production numbers.