A completely ridiculous article that is as divorced from reality as current paper oil markets. They speak of this as if it is a bump in the road. Look at their graphs. First they assume the strait will reopen by the end of May. Ridiculous. Then they say how bad it will be if it “takes a few more weeks” to reopen. It will never reopen the way it was before. It is Iran’s now. They are not giving it back to the west and its puppets.
Then let’s assume for a moment they were right. Why do their graphs show a mere months until production levels reach the previous level again? When the gulf states themselves admit it will take years. Their infrastucture is damaged. They have had to shut down production. Even if the strait reopened today the production would not reach normal levels again for years. And it won’t reopen today. It will stay as it is, and they will have to pay Iran’s tolls.
I wish I’d seen this comment on mbin so I could “boost” it.
Completely agree, and the fact that this is the narrative that’s being peddled means that most people have no idea what’s really coming.
I don’t really see how that helps the current crunch though. Any new oil development is going to take years to ramp up. By then the crisis will have already happened, and likely countries will have started mass switching to renewables from China.
It doesn’t, anymore than Venezuela’s sour crude did. It appears the stable genius gets a bright idea, but lacks the ability to think it through or seek wise council. Now if the Pentagon and businessmen are advising him, I’d wager they have their own agendas and advise our Genius-in-Chief accordingly, with or without the ability to think it all the way through. Additionally, I can say I’m also guilty of this deficiency, or I can and the results aren’t what I’d imagined (and I’m guessing it’s a shared bane, regardless of station, status, education, mental acuity, or lack thereof). Finally, I’m not advising an emotionally unstable person in a global position of power, with codes to wreak wholesale nuclear destruction on the entire planet.
Yeah, very much agree with all that. The decision making is very erratic. Although, I do think that attack on Iran was largely about cutting Asia and Europe off from the energy in the Gulf. While Venezuela and Greenland could be long term grabs where they don’t necessarily expect an immediate benefit. The big question is whether the US economy can handle the immediate shock.
I guess we’re about to see!
yup
