This has led to decade-long fuel shortages. Indonesia - Due to the lack of infrastructure for refining oil and the capacity for distribution, the majority of the gas that Indonesia produces has to be exported. He also changed the method of distributing fuel from pipelines to trucks, which inevitably caused transportation delays and fuel shortages.Ī massive fuel shortage in Mexico has angry drivers lining up for hours at service stations and demanding a fix - Bloomberg January 10, 2019ĥ. Mexico - In January 2019, President Obrador shut off six major pipelines in an attempt to put an end to fuel theft. As a result, frustration is growing among the civilians because of the lengthy wait times they must endure at gas stations, the consistent nationwide blackouts, and other disruptions to the economy.Ĥ. ![]() Nigeria imports a large percentage of its fuel, but in recent years, the government significantly reduced its imports because of its existing debt, fuel subsidies, and the changing value of the currency. Nigeria - Africa’s largest oil producer is also known to experience major fuel shortages, the reason being because of their lack of infrastructure and inability to meet the demand. This set off a year-long wave of shortages that led to significant price increases and panic buying.ģ. Iran - Due to the Iranian Revolution of 1979, there was a steep decline in the production of oil that Iran would have otherwise exported globally. The fuel shortage has caused significant impacts on a country that is already deeply suffering from a socialist regime.Ģ. Some sources report that it is being sold for as high as $4 US per liter under the black market. Whereat one point (in the not-so-distant past, I might add) gasoline cost less than a US penny, in 2021 the cost for a gallon has far exceeded $7 US. Venezuela - With an estimated 18.2% of the world’s share of oil, the largest oil-producing country collapsed due to corruption under the Chavez and Maduro administrations. Let’s take a look at a few of the world’s top oil-producing countries and important events that took place.ġ. But first, let’s see what history has to say. ![]() In this article, we will discuss the possibility of a fuel shortage in the US, the impact of a long-term shortage, how to prepare for one, and what to do when the gas stations run out of fuel. Since the United States holds a significant reserve of oil, we shouldn’t be concerned about a fuel shortage…or should we? Out of about 100 oil-producing countries, the United States is among the top five in production.Ĭrude oil is used mainly for heating, electricity, transportation (gasoline, diesel, and jet fuel), as well as for producing petroleum by-products (synthetic materials, all types of plastics, cleaning liquids, hair and beauty products, etc). The need for oil and petroleum products is deeply embedded in our world to the point that the grand majority of people would not be able to survive without them for too long.Įven though there are massive improvements in green technology, our dependence on crude oil has not yet significantly decreased.
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