U.S. Increases Dependence on Oil Supplied by Saudi Royal Family
Sunday, August 19, 2012
President Obama and Saudi King Abdullah
After years of working to reduce its dependence on Persian Gulf oil supplies, the U.S. has increased its petroleum imports from Saudi Arabia.
Over the past 12 months, American imports from the Saudi kingdom have increased by more than 20%. Experts say the change was prompted by fears of military conflict with Iran, which could disrupt oil shipments from Saudi Arabia and other oil-producing countries in the region. Supporters of increased imports also cite reductions in oil production in Mexico and Venezuela.
The increase in Saudi oil purchases has upset both conservative and liberal foreign policy experts.
“At a time when there is a rising chance of either a nuclear Iran or an Israeli strike on Iran’s nuclear facilities, we should be trying to reduce our reliance on oil going through the Strait of Hormuz and not increasing it,” Michael Makovsky, a former Defense Department official who worked on Middle East issues in the George W. Bush administration, told The New York Times.
To Learn More:
U.S. Reliance on Saudi Oil Heads Back Up (by Clifford Krauss, New York Times)
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