One Step Away From the Biggest Oil Shock in History
by Nick Giambruno
(internationalman.com)
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At $300./bbl, do the math…🤔
That'll awaken the operators. Drill Baby Drill.
https://www.ogj.com/general-interest/article/14302997/eia-us-crude-inventories-up-29-million-bbl
That's 12 bucks a gallon I won't pay. That makes it feasible to make my own diesel
Thanks to its commanding geography and expertise in unconventional and asymmetric warfare, Iran can shut down the Strait, and there’s not much anyone can do about it. If someone were to disrupt the Strait, it would cause immediate global economic chaos as energy prices skyrocket.
According to the US Energy Information Administration, more than 40% of global oil exports (around 21 million barrels) transit the Strait daily.
That’s more than $1.5 billion worth of oil every day. If someone were to disrupt the Strait, it would cause immediate global economic chaos as energy prices skyrocket.
https://internationalman.com/articles/one-step-away-from-the-biggest-oil-shock-in-history/
No mention of Oman in all this, the country on the other side of this strait. They and other countries have contingency plans for this, they have contingency plans for most things.