American Oil Independence At Its Highest Despite Recent Military - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

News

American Oil Independence At Its Highest Despite Recent Military Action

Posted: Updated:
TULSA, Oklahoma -

Oil experts say anytime there's military action, we'll often see an immediate price surge.

By dropping 59 tomahawk missiles on Syria, President Donald Trump made it clear: America is firmly against the use of chemical weapons.

"It is in this vital, national security interest of the United States to prevent and deter the spread and use of deadly chemical weapons,” said President Trump.

Historically military action has caused problems for American drivers, for example, the 1979 gas rationing.

The Gulf War led to major spikes at the pump.

After 9-11, American drivers experience much of the same.

“It's not going to impact us in the short term,” said professor Tom Seng.

Energy Business professor Tom Seng teqaches at the University of Tulsa.

"This was an emotional reaction by the traders who got that news,” said Seng.

He says we shouldn't be concerned with the temporary spike in oil prices right now because this is a military action, not war, and Syria isn't a major US oil supplier.

Oil experts say when there's any kind of conflict things can get a little shaky and prices at the pump will likely go up, but America has more oil security than ever before.

"People would not have to worry about whether or not there is gasoline at the pump," Seng explained.

Currently, 700 million barrels of oil sits in the US's Strategic Petroleum reserve. Commercially, there are 500 million barrels.

Seng said if all production stopped, which is highly unlikely, America would be able to keep up with the current pace of oil use for more than two months.

Seng also said America is even more secure because we have a long list of unfinished oil wells that if necessary could be up and running in a matter of months.

Special Features

Live Traffic

Get the latest road conditions on Green Country roadways.

iPhone App

Get breaking news, weather, sports & video directly on your iPhone.

CBS Shows

Watch your favorite CBS shows for free online.

Links

Looking for a website or event you heard mentioned on News On 6? Find it here!

TV Schedule

Need to know what's on TV? Check out our television schedule.

Live Radar

WARN Interactive

Special Coverage

  • Bridge Tracker

    How safe are Oklahoma's bridges? Use Bridge Tracker to find out now.

  • Fallen Heroes

    News On 6 honors our fallen Oklahoma heroes. View our interactive timeline.

  • Murrah Bombing Timeline

    Learn more about the events leading up to and following the bombing.

  • Storm Zone

    Watch tornadoes tear across Oklahoma and learn how to stay safe!

Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.