US Energy Dominance: How Gulf Insecurity Is Fueling American Power
The global energy landscape is undergoing significant changes, driven in part by Gulf insecurity.
US President Donald Trump celebrated the 'biggest oil deal in history,' a 100-year concession on 17 Venezuelan oil fields that would secure 65 billion barrels of oil. Around the same time, QatarEnergy informed Edison that force majeure on its liquefied natural gas deliveries would continue until early November.
The traditional bargain between Washington and the Gulf has been turned on its head: America no longer simply protects Gulf energy; it competes with it and profits from Gulf insecurity. US oil and gas have moved into the space left behind, with US energy giants raking in record-high profits.
Chevron is a key player in this story, operating major assets in Israel and Venezuela. The company has significant interests in US production and is positioned to expand its presence in both countries.