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Better a poor and wise youth Than an old and foolish king who will be admonished no more. Ecclesiastes 4:13
Question:
Or what king, going to make war against another king, does not sit down first and consider whether he is able with ten thousand to meet him who comes against him with twenty thousand? Luke14:31
Answer:
A king who watches too much FOX TV, reads too many Marvel comics, pays attention to the New York Times, and watches too many Hollywood political thrillers.
The narrow strait is the most important chokepoint for the world's oil supply. Some 21 million barrels — or $1.2 billion worth of oil — pass through the strait every day.
Will a closed Strait hurt Iran? In terms of international oil sales, yes, but in terms of daily life, no. Iran pumps 3.5 million barrels of crude oil per day. The situation at this hour:
Most people hear “Hormuz” and think gas prices.
That’s part of it. But it’s bigger. It’s a central artery for global trade, and we talked about how disruptions hit second-order systems fast, including inputs tied to food production (field work and fertilizers), trucking, and downstream shocks in everything from shipping insurance to medicine, medical supplies, medical treatments and regional stability.
This is why the “we’re energy independent so it doesn’t matter” line is naive. In a globally priced commodity world, you don’t get to opt out.
