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Possibly. However: - Europe gets a lot of it's oil through the Straits of Hormuz. - Xi might see this as his opportunity to attack Taiwan. It is just a huge
by hermitcrab 7mo ago
Possibly. However:
- Europe gets a lot of it's oil through the Straits of Hormuz.
- Xi might see this as his opportunity to attack Taiwan.
It is just a huge mess in which everyone loses. Except perhaps Netanyahu and Trump, personally.
- solstice 7mo agoIf we finally get the broad roll-out of renewable energy out of this, that would be a silver lining to this horrible mess. I hope it is a "Things need to get worse to get better" type of situation.
- blitzar 7mo ago> Europe gets a lot of it's oil through the Straits of Hormuz. 20 mb/d, around 25% world seaborne oil trade, transits the Strait – 80% destined for Asia. 4%, of the region’s crude flows are routed into Europe LNG - In 2025, almost 90% of the total volumes exported via the Strait of Hormuz was destined to the Asian market, while the share of Europe was just over 10%. Volume of oil (or LNG) isnt really the problem for the western hemisphere, its the doubling of price.
- hermitcrab 7mo agoI found this: https://www.visualcapitalist.com/charted-oil-trade-through-the-strait-of-hormuz-by-country/ https://www.visualcapitalist.com/charted-oil-trade-through-t... 3.8% is a lot less than the news reports were implying. But, as you say, it will drive up the global price.