US EditionWhy the Persian Gulf Has More Oil and Gas than Anywhere Else on Earth
5 Articles
5 Articles
Why the Persian Gulf has more oil and gas than anywhere else on Earth
It has been said that Persian Gulf countries are both blessed and cursed by their vast oil and gas reserves. Geologic forces over millions of years have meant the region is an energy-rich global flash point, as it is now with a war underway that's causing a global energy crisis.
An oil geologist analyzes the territory and assures that there are 5 billion or more barrels of crude oil in the region; its location between two tectonic plates makes it a strategic enclave
Visualize a place where the collision of tectonic plates has cooked up, for millions of years, the fuel that drives the world. That is the Persian Gulf, which has more than 30 supergiant oil fields, each possessing at least 5 billion barrels. However, amid the increase in war tension, its exports have decreased by 60% due to the blockade of the Strait of Ormuz. This region concentrates about half of the conventional oil reserves of the planet an…
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