PNN – A Hebrew-language media outlet has acknowledged that the U.S. war against Iran has triggered a global race in the energy sector.
According to the report of Pakistan News Network; the Hebrew-language news and analysis website Walla! published a report titled, “Is Trump Really Happy? War with Iran Has Led to the Emergence of a New Energy Superpower.” The report notes that while unrest in the Persian Gulf has driven up oil and gas prices, the Americas—stretching from the United States and Canada to Argentina and Venezuela—are breaking production records.
The war waged by the U.S. and Israel against Iran has destabilized the global energy market, yet it is generating massive profits on the other side of the globe.
According to this report, as concerns mount regarding a prolonged disruption in energy supplies from the Middle East, the global race to secure alternative energy sources has triggered an unprecedented surge in oil and gas production and exports across the Americas.
As acknowledged by the economic desk of this Zionist media outlet, the primary cause of this turmoil is the loss of over two billion barrels of crude oil from global markets, following severe attacks on energy infrastructure and oil tankers in the Strait of Hormuz.
These unrests have led to a sustained rise in the prices of oil, liquefied natural gas (LNG), and fuel products, prompting nations and investors to seek stability outside this region.
The outlet also reported on Washington’s efforts to persuade various global oil companies to invest in Venezuela with the aim of rapidly increasing the country’s crude oil production, noting that oil producers elsewhere in the Americas are also taking steps in this same direction.
Nevertheless, Valla acknowledges that production from the Americas cannot entirely replace cheap Middle Eastern oil. A rapid increase in output from this region can, at best, help curb the rise in global prices and diminish the ability of OPEC—along with the Gulf States, particularly Saudi Arabia—to dictate future pricing.
The report further notes that the conflict involving Iran demonstrates once again that, within the new geopolitical landscape, geography and stability have emerged as decisive factors—no less significant than geological conditions.