How the US oil business plays into the Iran Invasion?

America’s Strategic Oil Exports

Thanks to Paul Ryan’s 2015 deal, U.S. crude is helping the world.

By The Editorial Board, WSJ

March 11, 2026 5:46 pm ET

The International Energy Agency said Tuesday that its 32 member countries will release a record 400 million barrels of oil from their emergency reserves to mitigate supply disruptions caused by Iran. Stockpiles exist for this purpose, but don’t overlook how U.S. crude exports are also providing a strategic oil reserve for the West.

By closing the Strait of Hormuz, Iran has stranded about 20% of the global oil supply. Iran has menaced commercial ships, making the cost of insurance for shippers prohibitive. U.S. officials also say Iran placed mines in the Strait. Saudi Arabia and the United Arab Emirates are rerouting some supply through pipelines to the Red Sea.

But refineries in Asia and Europe that import crude from the Middle East are still seeing major disruptions, which is reflected in rising crude prices. The IEA release is intended to mitigate disruptions and contain prices. Western countries established the IEA after the 1970s Arab oil embargo for this purpose.

In recent years, however, the outfit has become a mouthpiece for the anti-fossil-fuel crowd. Progressives have cited IEA projections of waning global oil and gas demand to push policies to limit U.S. production. Fortunately, they haven’t succeeded in stranding U.S. oil exports, which are now also mitigating supply disruptions for allies.

Europe and Asia can thank former House Speaker Paul Ryan, who in 2015 drove legislation to overturn the U.S. embargo on oil exports that was imposed in 1975. Mr. Ryan cut a deal with Barack Obama to lift the ban in return for extending renewable subsidies. This spurred more shale fracking without crimping U.S. supply since Gulf Coast refineries aren’t well-suited to process lighter shale blends.

As a result, the U.S. is now a net exporter of oil. Since 2015, U.S. crude exports have increased nearly 10-fold to four million barrels a day, about 1.8 million of which supply refineries in Europe and 1.5 million in Asia and Australia. (See the nearby chart.) U.S. exports have reduced allies’ reliance on Russia and the Middle East.

Yet that hasn’t stopped progressives from trying to reinstate the ban. Democrats introduced legislation during the Biden years to block crude exports. “We cannot continue to fuel the global climate crisis at the expense of American communities burdened by fossil fuel pollution,” Massachusetts Sen. Edward Markey said in 2021. U.S. exports are “perpetuating a merry-go-round of oil dependence,” Oregon Sen. Ron Wyden said.

These guys are clueless about the security and economic benefits of fossil fuels. They prefer that allies depend on Russia and the Middle East. Biden Energy Secretary Jennifer Granholm floated a ban on crude exports in 2021, though wiser heads prevailed after Russia invaded Ukraine.

The war in Iran is another reminder that U.S. oil and gas is a strategic asset. The left’s siren calls to unilaterally disarm would empower America’s adversaries.