The oil tanker HS Electra unloads oil from the North Sea at the Portland Pipe Line facility in South Portland, Maine, in 2013. John Ewing/Portland Press Herald via Getty Images hide caption

itoggle caption John Ewing/Portland Press Herald via Getty Images

A tanker carrying crude oil from Iraq's Kurdish region anchors near Ashkelon, Israel. It's believed the oil has been off-loaded into Israel. The U.S. and Baghdad oppose the Kurdish export of oil from the autonomous northern region. David Buimovitch/AFP/Getty Images hide caption

itoggle caption David Buimovitch/AFP/Getty Images

Scotland's offshore oil platforms in the North Sea generate significant wealth for the nation — especially for the Shetland Islands, where oil tanker traffic boosts the local economy. Andy Buchanan - WPA Pool/Getty Images hide caption

itoggle caption Andy Buchanan - WPA Pool/Getty Images

Givot Olam CEO Tovia Luskin expects to drill 40 wells and build a pipeline to a refinery on the coast. The company already has "proven and probable" reserves of 12.5 million barrels of oil. Luskin chose where to drill based on a passage from the Bible. Emily Harris/ NPR hide caption

itoggle caption Emily Harris/ NPR

On Dec. 23, 1973, cars formed a double line at a gas station in New York City. The Arab oil embargo caused gas shortages nationwide and shaped U.S. foreign policy to this day. Marty Lederhandler/AP hide caption

itoggle caption Marty Lederhandler/AP

Libyan oil exports have plunged because of strikes at oil terminals on the northeastern coast. Supply has also been disrupted in the country's southern fields. Hussein Malla/AP hide caption

itoggle caption Hussein Malla/AP