Following U.S. strikes on Iranian nuclear facilities on Saturday, the Iranian Parliament has voted in support of closing the Strait of Hormuz, one of the world’s most critical oil transit chokepoints, according to media reports.
Any final decision on retaliation, however, will rest with the country’s Supreme National Security Council and le
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Around 20 percent of global oil trade passes through the Strait. Some experts have said that if Iran were to cut off access to the Strait, it could spike oil prices by 30 to 50 percent immediately, with gas prices likewise rising by as much as $5 per gallon.
Got an EV, I’ll be okay. Sorry republicans, but surely you were expecting this, right? Enjoy the gas prices.
even if you have an electric vehicle, the stuff you rely on probably uses oil and gas for production, transportation, whatever.
The market seems to be betting that it’s not happening.
TACO principle.
Russia Like this! Krasnov did it again. Молодец товарищ Краснов.
$300 dollar barrel of oil in 3, 2, 1…
This must be a very difficult decision. It heavily affects China, as Irans biggest trade partner for oil, as well as the other exporting gulf states Iran tried to normalize relationships with during the last years. Oil prices will go up, Putin will benefit.
Thankfully there’s a price cap set for russian oil (at least by all the western countries), so not that much benefit for them. Don’t know is asian countries etc. still pay the full market price though.
Good on them for being smart about this. Doesn’t always have to be bombs. I thought Trump was supposed to be a good business man.
Is that smart? The US largest export is oil. Spiking the prices is what they want too.
The US charges its people international prices and not based on local extraction costs.
It’s not the good of the people that they’re thinking of. The US people are just another market to be exploited. Imagine the profits that the producers can harvest
You mean that guy that had not one, not two, but three failed casinos?
I think it was 5 casinos and a casino holding company? Brb…
Edit:
Bankruptcies were…
1991: Trump Taj Mahal
1992: Trump Castle Hotel & Casino
1992: Trump Plaza Casino
1992: Trump Plaza Hotel (not a casino, just a hotel.)
2004: Trump Hotels & Casino Resorts
2009: Trump Entertainment Resorts. Which was a casino holding company. Not only did he bankrupt cannons he also bankrupted a company that syphons profits from casinos.Apparently that’s good business? Haha
The only way for us to leave the middle east alone is if they have the bomb. The further they are away from possession of the nuke, the more likely we are to invade and generally fuck with them.
Yes, because Russia and the US have been no trouble at all since they got the bomb.
What we need to do is stop using fossil fuels, and let the Middle East go back to being irrelevant.
go back to being irrelevant
Yeah, that was never true, just delusional and wishful thinking. The region has always been relevant that’s why the Greeks and Romans coveted it long before oil.
I actually asked Le Chat yesterday, what would happen if oil became irrelevant:
If oil were not a valuable resource, the geopolitical interests in the Middle East would likely shift, but the region would still hold significance for several other reasons. Here are some potential international geopolitical interests that could remain:
- Strategic Location: The Middle East’s strategic location at the crossroads of Europe, Asia, and Africa makes it a crucial area for global trade and military strategy. Control over key waterways, such as the Suez Canal, the Strait of Hormuz, and the Bab el-Mandeb, would continue to be of great importance for international shipping and naval power projection.
- Trade Routes: The region serves as a vital land bridge and maritime corridor for global trade. Ensuring the security and stability of these trade routes would remain a priority for international powers.
- Religious and Cultural Significance: The Middle East is home to some of the world’s most important religious sites for Islam, Christianity, Judaism, and other faiths. The custodianship of these sites and the influence over religious narratives would continue to be of interest to various state and non-state actors.
- Security Concerns: The Middle East has been a hotspot for terrorism, insurgencies, and regional conflicts. International powers would likely remain engaged in the region to address security concerns, prevent the spread of extremism, and maintain regional stability.
- Alliances and Partnerships: Many countries have established alliances and partnerships with Middle Eastern states based on shared interests, security agreements, and historical ties. These relationships would likely continue, albeit with a different focus.
- Economic Interests: Beyond oil, the Middle East has other economic resources and opportunities, such as minerals, agriculture, and emerging markets. International investment and economic cooperation in these areas could continue to drive geopolitical interests.
- Humanitarian and Development Issues: The Middle East faces numerous humanitarian challenges, including refugees, internal displacement, and development needs. International actors may remain engaged in the region to address these issues and promote human rights and development.
- Regional Power Dynamics: The Middle East has several regional powers with their own geopolitical ambitions and rivalries. International actors may seek to influence these dynamics to maintain a balance of power and protect their interests.
- Technological and Scientific Collaboration: The region has potential for technological and scientific advancements, particularly in areas like renewable energy, desalination, and agriculture. Collaboration in these fields could be of mutual interest.
In summary, while the value of oil has significantly shaped international geopolitical interests in the Middle East, the region’s strategic location, cultural significance, security concerns, and economic opportunities would likely ensure continued engagement from global powers. The nature and extent of this engagement would depend on a complex interplay of factors and evolving global priorities.
This will just give trump more leverage to drill on protected lands and build pipelines through communities, and seize private property in the US, to satisfy his American oil baron owners.
Unfortunately the oil we drill can’t be refined here. So it doesn’t matter if we drill more. We can’t do anything with it without sending it east.
It’s okay, kids can build and work the refineries.
Why can’t it be refined here?
I was curious, and this is what I found.
As of January 2024, there were 132 operating oil refineries in the United States with an atmospheric crude oil distillation capacity of 18,374,628 barrels per calendar day according to the U.S. Energy Information Administration (EIA).[94]
Here is a video about it. In a nutshell, the oil we are able to pump out of the ground is a much lower quality oil and our infrastructure is not setup to handle the low quality crude oil. In order be able to process it, we would need to spend billions for the infrastructure and it wouldn’t make financial sense since the East processes it for so much cheaper.
The US has been a net exporter of refined petroleum since 2010.
Yeah but it’s not the same quality or type of oil that the Middle East has. However Alaska does have that type of oil…
This is exactly right and needs to be higher. This was either part of the plan or a welcome side effect.
So, for those watching, as usual, the cost of the war can and will fall most heavily on the poor.
The poor should rethink their vote next time
next time
Here’s hoping there will even be a next time.
If the option to vote with paper is gone try lead.
Sorry, couldn’t hear you over all the deafening silence from Kamala Harris and Joe Biden about how much they oppose this foreign policy and how different things would have been in this regard if either of them had become president.
You’re right.
They should all vote Green.
Well, they need to start by registering for the green party.
You can’t show up on November 6th and say “everybody should have voted for Jill Stein!” After she barely gets more votes than the worm riddled antivax conspiracy theorist that dropped out of the race and backed trump.
$10 gasoline here we come.
I really hope they do close it. Time for FAFO.
As much as I hate how this is going to affect millions in the US and Iran, and elsewhere, who are already struggling, I don’t think anyone in the US will care unless it personally affects their own quality of life, so yeah, part of me agrees with you.
If the gas price skyrockets they will demand Donald’s head. Nothing pisses Americans off more than not being able to use their cars.
You sure about that? This is MAGA. They will fall in line and say “if Biden didn’t fuck this up in the first place… then…blah blah”
They are all Team players. They will bend the knee like before.
Demand for his head, I doubt. They’ll just call for a full invasion and taking of the strait and justify the strikes and invasion do to Iran closing it.
There is a portion of MAGA that won’t, sure.
But the majority will. This is a war of choice, not necessity, and you saw how quick people were to flip on Harris when it became clear she was comfortable with people being impoverished for no good reason.
I mean yeah but he’s already a dictator. We can’t vote our way out of this.
You just lived through a period where people literally threatened their neighbors (and tried to kidnap a governor) with guns because they couldn’t get a haircut or get some cheesy biscuits at Red Lobster.
The worst sin Donald can commit is coming between Americans and the convenience that they equate with liberty.
And yes, there will be another vote.
The American people do love their bread and circus.
I’m not sure why Trump isn’t frightened by the prospect of the American people missing those things.
And yes, there will be another vote.
6-3 SCOTUS says the election didn’t mean what you thought it meant.
Bush v Gore was a lethal blow for American democracy.
The vote may take place, but its not gonna matter. If he wants to stay in office, he will.
I’m torn, because I’ve seen plenty to suggest the democratic process is still chugging along in the states. Let me know when the NJ/VA gubernatorial races are overturned.
At the same time, I’ve seen “Welcomefest” and the liberal doubling down on Palestinian genocide. I’m seeing liberals in Congress line up to support Trump in his Iran War. Liberals are bought into crypto. They’re bought in on school privatization. They’re bought in on defunding Medicaid and SS. They bought in on the deportations and the lawless arrests and the police violence
Too many liberals are supporting Trump in deed, while complaining in name only. How does an election fix that?
What you’re saying is there is actually a class divide that gets hidden by a manufactured social divide.
Ding ding ding. We have a winner!
could it be that Marx was right, then?
From what I understand, the US is now an oil producing country due to fracking so we won’t see results like the oil embargo of the 70s, just increases in prices. Increasing the price of oil will increase the profits to Republican donors. I do wonder what the products of the closure will look like.
Increasing the price of oil will increase the profits to Republican donors.
It also increases Russian profits. 🤔
they’ll blame iran and then demand daddy donny fix it with more bombs. they lack the ability to see that trump is the entire cause of this nonsense
If the gas price skyrockets they will demand Donald’s head
Maybe. Or maybe they’ll just keep blaming Palestine protesters and other Woke Leftists for doing a domestic terrorism by talking shit about the president.
It took a long long while for the median Americans to come around to Bush being a POS. Conservatives only really turned on him after he left office.
I can easily see our domestic media egging on our paramilitary DHS to do more fascism against the immigrants responsible for inflation. And I can easily imagine a lot of Americans convinced they’re who are to blame.
His supporters won’t demand anything, even the ones a raise in gas prices most directly affects. But let them eat shit in any case.
They’ve made their decision, now let’s see them enforce it.
The US Navy is not going the the straits be closed
The the
