alt Hacker NewsIran has been keeping it open to avoid attacks. Their first order of business if they get nuclear weapons would be closing the strait and implementing a far more massive toll. They already have ICBM capable of hitting Europe. This isn't really America's problem though, the price of oil won't go parabolic, it will fracture. That's what the current price action is leaning towards. So cheaper oil in the Americas and vastly more expensive oil in Europe.
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greedo • last Wednesday at 2:21 PM
Oil is fungible, so the cost will find an equilibrium regardless of source (excluding quality differences).
Absolutely none of that would happen. It's in Iran's interests to keep the oil flowing at a fee that everyone can stomach and that doesn't offend the sensibilities. $1 a barrel for a year of unprovoked war crimes costing them hundreds of billions of dollars, with the cost effectively shared by all, fits this description. Nor has Iran responded with the kind of zero-sum, suicidal, totalitarian foreign policy that is always attributed to them by their enemies. Serious commentators have all remarked at how restrained they've been during this war. It's almost as though sane people who intend to come to a realistic agreement that everyone can live with are running their foreign and defence policies.