The World Needs Natural Gas Now, but the U.S. Is Exporting All It Can
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
The Pentagon’s rush to rearm its Mideast forces makes it less ready to confront potential adversaries like Russia and China, administration and congressional officials say.
The war in Iran has disrupted supplies of diesel, used to power trucks and heavy equipment, much more than gasoline, which is primarily used in passenger cars.
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
The interconnectedness of global energy markets means that the effects of Iran’s blockade of the waterway are not limited to countries directly dependent on oil from the Middle East.
The U.S. and other exporters are poised for a windfall, but disruptions to Persian Gulf supplies are also pushing gas-buying countries to consider alternatives like coal, solar and nuclear energy.
Emirates, Qatar Airways and Etihad Airways have become some of the world’s largest and most profitable thanks to their location at the center of busy travel routes.
Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
Prices for liquefied natural gas have shot up in recent days, which could bring bigger profits for European and U.S. energy companies.
Secretary of State Marco Rubio said the United States would negotiate agreements to deliver aid in new ways and would focus on the Western Hemisphere and Asia Pacific.