Vulnerability to closing of Hormuz (in English and Spanish)
Tankers carrying roughly 8-million barrels per day (mmb/d) of crude oil, or some 16% of the non-communist world's oil supply, pass through the Strait of Hormuz. Experts agree that just 3-mmb/d of that could be exported through alternate routes. If the war between Iran and Iraq should result in their completely halting each other's production, this relatively limited supply curtailment would reduce world oil production by over 3.4-mmb/d. Since the two have not caused such mutual disaster during four years of war, many observers believe there has been a deliberate avoidance of the jugular squeeze. Nevertheless, the two combatants appear capable not only of cutting off their oil production, but escalating fighting to the point where Gulf traffic would be impeded. Potential results from a prolonged Iran-Iraq crisis are viewed in three scenarios. Also included in this issue are brief summaries of: (1) Mexico's new energy plan, internationalism, and OPEC; (2) update on Argentina's energy resource developments; (3) Venezuela: belt tightening; (4) Western Hemisphere oil production declines; (5) (6) days of oil supply for Canada, USA, Japan, France, Italy, and UK; and (6) US Department of Defense fuel consumption. The Energy Detente fuel price/tax series and principal industrial fuel prices are included for March for countries of the Eastern Hemisphere.
- OSTI ID:
- 5290355
- Journal Information:
- Energy Detente; (United States), Vol. 5:5
- Country of Publication:
- United States
- Language:
- English and Spanish
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NATURAL GAS
PETROLEUM
DOMESTIC SUPPLIES
PETROLEUM PRODUCTS
STRAIT OF HORMUZ
US DOD
FUEL CONSUMPTION
VENEZUELA
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