Republican News

Republican News

Oct 27 2014

Murkowski: Global Oil Outages Can Provide “Strategic Warning” of Threats to Stability

Top Energy Committee Republican Warns of Petroleum Production Losses in Libya, Yemen, and Elsewhere

WASHINGTON, D.C. – U.S. Sen. Lisa Murkowski, R-Alaska, today released a report surveying petroleum production outages around the world, data which could be used to provide strategic warning of threats to international security.

“Losses in oil production often reflect instability,” Murkowski said. “Energy reporting clearly pointed to Iraq’s deteriorating security years before the current collapse and provides us strategic warning of violence in other countries and regions.”

The report, entitled Oil Production Outages & Strategic Warning, is available here. Highlights include:

  • Recent violence in Yemen, Libya, and South Sudan has caused sustained losses in oil production;
  • Petroleum outages clearly illustrate the effect of sanctions against Syria and Iran;
  • Iraq saw significant and rapid increases in petroleum outages concurrent with the rise of ISIS; and
  • Colombia and Nigeria have also seen oil production losses as a result of pipeline sabotage.

The report concludes:

“Sustained levels of such outages in other countries may constitute a degree of strategic warning to policymakers that attention is required, and ultimately are a reminder that record-breaking increases in North American oil production can enhance national security and stabilize global markets.”

Earlier this fall, Sen. Murkowski released staff reports that called attention to the deteriorating security situation in Iraq, as documented by public energy-related reporting, and that analyze ISIS black market oil sales and the possibility of Coalition strikes against ISIS oil.

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