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Very Large Crude Carriers carry ~2 million barrels of oil. Ultra Large Crude Carriers double that. If oil went down to $50/Bbl, that $2 million fee amounts to a
by ux266478 7mo ago
Very Large Crude Carriers carry ~2 million barrels of oil. Ultra Large Crude Carriers double that. If oil went down to $50/Bbl, that $2 million fee amounts to a ~2% tax per ship, given their cargo capacity. It's not particularly exorbitant, especially given that the entire reason they proposed this toll was to fund their rebuilding efforts (Americans and Israelis did a lot of damage that's been under-reported and ignored)
This conflict has been an interesting case of watching mass hysteria interact with propaganda in the newform, rapid pace of media that exists in the internet age. The amount of wild conjecture, speculation, misinformation is the most extreme I've ever seen it, eclipsing even the 6 months of nonsense that was spurred on by the Russian invasion of Ukraine.
- pokstad 7mo agoIf that’s right, 2% indeed doesn’t sound bad. Especially since it’s supposed to be split with Oman.
- gwern 7mo agoThe 2% is the camel's nose. They are establishing that they tax the Strait traffic and there is no longer freedom of navigation. Once it is a done deal, the deal will be altered...