US Still Held Captive by Middle East Oil

President Joe Biden once said 'There is nothing we can't do if we do it together.'

However, the US still relies heavily on Middle East oil imports, with Iran and Saudi Arabia controlling a significant portion of these supplies.

The Wall Street Journal reports that Gulf States have resigned themselves to Iranian control over the Strait of Hormuz, a crucial waterway for global oil trade.

Presidents since Jimmy Carter have vowed to reduce American dependence on Middle East oil, but progress has been slow due to technical and economic challenges.

The US primarily produces light, sweet crude from shale formations, while the Middle East supplies heavier, higher-sulfur crude. Old refineries in the US are not equipped to process this type of crude, and building new ones would be expensive and subject to environmental regulations.