The Effect of U.S. Energy Self-Sufficiency on Its Commitment to Secure Shipping Lanes in the Strait of Hormuz
26 Pages Posted: 4 Oct 2013
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The Effect of U.S. Energy Self-Sufficiency on Its Commitment to Secure Shipping Lanes in the Strait of Hormuz
Date Written: June 30, 2013
Abstract
Deemed as the “world’s most important chokepoint” for oil and international shipping, the Strait of Hormuz is the main thoroughfare to and from the Arabian Gulf. In 2011, 17 million barrels of crude oil passed through the Strait each day, representing 20% of global oil trade. A disruption in shipping through the Strait of Hormuz would have severe consequences for the world economy. Currently, the U.S. guarantees security for this critical maritime route. Without American forces, oil tankers could be threatened by Iran or non-state actors such as pirates.
Previously, U.S. commitment to the region was taken for granted as the country relied heavily on oil imports from the Gulf. However, recent forecasts by organizations such as the International Energy Agency (IEA) and BP have predicted that the U.S. will become energy self-sufficient within the next couple decades. It is now an open question whether the U.S. will continue to secure shipping lanes in the Strait of Hormuz.
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