In spite of the unrest rising in Middle East which included the death of the military leader of Iran, the average prices of gasoline in America have managed to stay $3 per gallon. This is something that is going to […]
In spite of the unrest rising in Middle East which included the death of the military leader of Iran, the average prices of gasoline in America have managed to stay $3 per gallon.
This is something that is going to be seen as a major boost for the reelection of Donald Trump as it is good for the wallets of drivers. It has also showed a great amount of cushion which has been created by the oil production of United States that has been booming and has gone twice in the last decade.
A lot of the events which have taken place in the Middle East in the previous few years specifically the previous nine months have been putting the production’s reliability in the region which is rich in oil at risk.
The recent killing of Qaseem Soleimani by an airstrike conducted by United States coupled with the attacks which had taken place in the summer on the Strait of Hormuz which is a waterway that borders Iran and the sanctions which have been imposed by Trump and his administration over the last two years have been majorly impactful in the unrest which has been taking place in the region.
There isn’t a country which can truly call itself independent when it comes to energy as oil is a commodity that is traded on the markets globally but in the current situation America has been able to improve on its dependency and has been moving close to a situation where it is less dependent on Middle East for their oil needs and therefore are able to dictate terms in an easier manner than what it used to before.