The Strait Hype |
“A single regime has decided to exert control over a 21-mile passage, and as a result, we are living through the worst energy crisis the world has ever seen,” The Atlantic’s Amos Hochstein wrote in an essay published on Tuesday. Take that, OPEC! The shuttering of the Strait of Hormuz throttled the world’s access to the commodities that transit that waterway, but that may be the least of the world’s problems.
It will take “years to repair” the Gulf region energy infrastructure that Iran has attacked with drones and missiles over the last month. Indeed, “$100 oil could be here to ...