It Will Take Months to Get Oil and Gas Flowing out of the Persian Gulf
Energy,Gas Prices,Oil Prices,Strait of Hormuz
Reopening the Strait of Hormuz — a central aim for the United States when it agreed to a cease-fire with Iran — would be the first step toward getting more energy flowing through the Persian Gulf.
But only the first step.
That is because dozens of refineries, storage facilities, and oil and gas fields in at least nine countries, from Iran to the United Arab Emirates and beyond, have been targeted in strikes. All told, 10 percent or more of the world's oil supply has been turned off. Restarting those operations will require not only safe passage through the Strait of Hormuz, but also inspecting pumps, replacing bespoke processing equipment and recalling employees and ships that have scattered across the globe.
"It's not a case of you just flick a switch and everything's back up again," said Martin Houston, a longtime oil and gas executive who now serves as board member for several energy companies.
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