TV News LIES

Wednesday, Feb 21st

Last update03:27:39 AM GMT

You are here News Energy Did you know that by law the US guarantees israel's oil supply - no matter what?

Did you know that by law the US guarantees israel's oil supply - no matter what?

E-mail Print PDF

Under a 1975 Memorandum of Understanding (MOU) the USA guaranteed all Israel's oil needs in the event of a crisis. This Memorandum of Understanding is quietly renewed every five years. It commits U.S. taxpayers to maintain a strategic U.S. reserve for Israel, equivalent to $3 billion in 2002 dollars. Special legislation was enacted to exempt Israel from restrictions on oil exports from the USA. Moreover, the U.S. government agreed to divert oil from the USA, even if this causes domestic shortages. The U.S. government also guaranteed delivery of oil in U.S. tankers if commercial shippers become unable or unwilling to carry oil from the USA to Israel.

If the oil Israel needs to meet all its normal requirements for domestic consumption is unavailable for purchase in circumstances where no quantitative restrictions exist on the ability of the United States to procure oil to meet its normal requirements, the United States Government will promptly make oil available for purchase by Israel to meet all of the aforementioned normal requirements of Israel. If Israel is unable to secure the necessary means to transport such oil to Israel, the United States Government will make every effort to help Israel secure the necessary means of transport.

More...


Most Recent Related Stories...


Ukraine withdraws from Avdiivka, in Russia's first major battlefield win in months

Ukraine withdrawing from AvdkivkaRussian troops have occupied the eastern Ukrainian town of Avdiivka after a months-long assault that wore...

Saudi Arabia surprises oil markets by ditching plan to increase production

Saudi Arabia ditches plan to increase production Saudi Arabia has cast doubt on the future of the global oil market after abandoning plans...

‘Smoking gun proof’: fossil fuel industry knew of climate danger as early as 1954, documents show

Fossil fuel industry knew of dangersThe fossil fuel industry funded some of the world’s most foundational climate science as early as...

Biden administration issues rule to cut methane emissions from oil and gas

Methane gasThe Biden administration on Saturday announced new regulations that are expected to deliver significant cuts to...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!