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.
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.
The Middle East was probably more culturally relevant before oil. You can’t disregard an entire region of the planet because your narrative doesn’t want to include them.
Billionaires don’t want to stick their greasy fingers in culture though.
If that were true, Disney and a number of other large companies would not exist.
Yeah, that was never true, just delusional and wishful thinking. The region has always been relevant that’s why the Greeks in 324 BC and the Romans in 26 BC coveted it long before oil.