1.3 The Paradox of Energy Security and Sustainability
21
• Six Day Israel-Arab Conflict
June-July 1967
• Arab - Israel War and Arab Oil Embargo
October 1973 - March 1974
• Iranian Revolution
November 1978 - April 1979
• Outbreak of Iran-Iraq War
October 1980 - January 1981
• Iraq invasion of Kuwait
August 1990 - January 1991
• Suspension of Iraq oil
June - July 2001
• Strike in Venezuela
December 2002 - March 2003
• War in Iraq
March - December 2003
• Hurricane Katrina
September 2005
• US - Iran collision in the Persian Gulf after US pulled out of nuclear agreement with
Iran and imposed new sanctions.
April-May 2019
• SHOOTING DOWN OF US DRONE AND SEIZING BRITISH OIL TANKER
September 2019
• DRONE STRIKE AT SAUDI OIL FACILITIES
September 2019
•COVID 19 Pandemic that led to global economic recession
February - March 2020
Source - US Department of Energy and IEA, The Economist , May and Sept
2019
a
SIX DAY WAR 1967, 5.4
ARAB ISRAEL WAR 1973-74,
7.3
IRANIAN REVOLUTION 197879, 8.8
IRAN IRAQ WAR 1980-81, 6.4
IRAQ INVASION OF KUWAIT
1990-91, 6.5
IRAQ OIL EXPORT
SUSPENSION 2001, 2.7
VENEZUELAN STRIKE 200203, 3.4
WAR IN IRAQ 2003, 2.9
SAUDI OIL DRONE STRIKE
SEPTEMBER 2019, 5.7
b
Fig. 1.11 a Noteworthy instances of oil supply disruptions. b Daily supply loss (Million
Barrels/Day) (Ref. The Economist September 21, 2019)