US Stuck in Oil Quagmire as Middle East Dominance Continues
President Joe Biden's statement that 'there is nothing we can't do if we do it together' seems to have fallen on deaf ears, especially when it comes to the US's dependence on Middle East oil. The Wall Street Journal reports that Gulf States are resigned to Iran controlling the Strait of Hormuz.
US refineries are limited in their ability to process heavier, higher-sulfur crude from the Middle East due to environmental laws and a lack of infrastructure to handle such oil. Building new refineries would require billions of dollars in investment and come with significant regulatory hurdles.
President Trump has proposed tapping into North Sea oil reserves as an alternative, but this plan faces its own set of challenges. Meanwhile, the US continues to spend billions on Middle East oil, putting human lives at risk due to ongoing conflicts.