Oil Is Not Found Everywhere
The United States, by our action in starting a war with Iran, sparked a blockade at the Strait of Hormuz. We followed by starting our own naval blockade and since then oil prices have jumped to $100 per barrel. Many are asking: “Why?” Why did we start this war, but, also, why is the price of oil now so high? Why does the Middle East control the price of oil? The simple answer is that over 50% of the proven reserves for oil in the world are there, and Mid-East oil today accounts for over 25% of total annual world oil production. It would be nice if mother nature had deposited ...