The war with Iran has exposed the value of energy abundance. When a major shipping route goes down, domestic supply and reliable infrastructure buy a country room to maneuver.
Before the conflict, roughly one-fifth of global petroleum liquids moved through the Strait of Hormuz. Its disruption became the largest oil-supply shock on record. The shock has been severe, but the United States entered it from a position few countries enjoy: record domestic production and a mature system of pipelines, refineries, ports, storage facilities, and export terminals.
The lesson from the Iran conflict is straightforward. Energy security requires abundant and diverse domestic supply, reliable supply chains, and infrastructure that can absorb a shock.
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