The US president Donald Trump announced last week, not least for the Arab Gulf oil, that the US is no longer dependent on the Middle East. America’s dependence on Arabian oil is therefore no longer a threat. It raises a question of what to do when the US became relying on our oil about so-called health.
The other aspect is commercial revenues generated by our oil sales in the United States which, during peak times, reach more than 10 million barrels a day in the country.
Today, our defense of the gulf oil fields and our loss of income from oil flowing into the United States are two essential elements of security for us to finance our military purchase.
They have both compromised now and we will forever support the balance of payments in America. The next question is: how will we fund these manner of military expenditures as well as the security costs the USA requires of us? Is the friendship going to be ended? Or does the transfer be one-way? Today, America produces around 20,5 million barrels and exports of crude oil and petroleum products, about four million barrels.
The company imports around 1.6 million raw oil from Canada, Mexico, and Venezuela to balance the configuration of its refineries for the heavy raw oil type. Saudi Aramco sold the oil in America to meet its demand for refinery.
At 13,5 million barrels a day, as well as coal, the USA is now the world’s largest oil producer. Many countries are on the brink of doing the same with their shale oil resources as Argentina and China, due to shale oil and gas technologies.
In the past, we harassed and used oil as a tool to counter assaults. The oil embargo was imposed in 1973. But this is all going to go up in smokes right now and we have to find oil alternatives.
The explanation is that consumers are slowly becoming more autonomous or are seeking new energy sources. Instead, we will face up to the real world to meet our arms expenditures and support from the USA, without any bargaining chips at hand.