U.S. Energy Helps Cushion Global Supply Shock From Hormuz
The U.S. energy system has helped mitigate the shock loss of oil and LNG supply from the Middle East when the Strait of Hormuz closed to traffic and sent refiners and gas importers worldwide scrambling for alternative supply. The record American crude oil production and huge natural gas production a
Source: OilPrice.com
―
DW NOTE
U.S. shale can scale up in months; OPEC spare capacity takes years to build. The Hormuz shock proved that energy security is just another word for having your own wells — and the political will to drill them.