America Committed to Gulf Security Despite Changing Relationship with Region's Oil, says Gen. Dempsey
America’s relationship with the Middle East’s energy
resources is changing as U.S. domestic oil production continues to grow. A
combination of hydraulic fracturing, horizontal drilling and advanced seismic
technologies have contributed to the largest annual growth in U.S. crude oil
production since Colonel Edwin Drake first drilled for oil in Titusville,
Pennsylvania in 1859. Most of the crude oil is coming from shale formations in
North Dakota and Texas – what we call “light tight oil.” Since 2010, the United
States has, on average, increased monthly crude oil production by 50,000
barrels a day.
Not all of this U.S. light tight oil is displacing Middle
East crude, of course. A number of factors matter, most importantly the crude
oil grade. The United States is producing light tight oil, that is, low-density
crude oil, whereas the United States imports heavier crudes from the Persian
Gulf, including from Saudi Arabia. Moreover, U.S. refineries have been
increasingly geared to absorb heavier crudes, from the Persian Gulf, but more so from Canada, Mexico and Venezuela.
Nevertheless, the glut in U.S. crude oil production and
declining demand for oil (a consequence of slow economic growth and more fuel
efficient vehicles) have contributed to a powerful notion that the United
States is relying less and less on oil from the Persian Gulf and could
conceivably help wean America off crude oil imports from the Middle
East entirely (a debatable point).
Whether or not one believes that the United States can break
the tether to Middle East oil, U.S. allies and partners in the Persian Gulf are
increasingly nervous about America’s long-term security commitment to the
region. After all, if the United States no longer relies on energy from the
region, why should American foot the bill for protecting the sea lanes – that backbone
of the crude oil trade in the region – or so the narrative goes.
The United States has a number of stakes in stability of the
Persian Gulf oil trade even if it does rely less on oil from the region. Supply
shocks will contribute to higher global oil prices, which will be felt at home.
Moreover, supply shocks are damaging to our allies, particularly those in East
Asia that have grown more dependent on oil and gas from the Middle East and
North Africa. But there are other legitimate security concerns as well, which
were not far from General Martin Dempsey’s mind when he responded to a question
on Monday about how the American energy revolution will impact U.S. interests
and presence in the Persian Gulf. Here’s what the Chairman of the Joint Chiefs
of Staff said:
www.cnas.org
2013-03-20 09:02:10
Source:
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