If I was doing this, I should be arrested.
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How much impact does IRANIAN oil have on the overall market? Where is the “magic” that we can’t do without it while we win a war? The whole thing sounds made up. Not the manipulation and pump & dump. THAT PART is perfectly reasonable and to be expected anyway. I mean the “backstory” that’s being planted.
And I’ll tel you this… with the caveat that I have not been “in the business” in 30 years so I will allow that some things might have changed but…Not Iran and not anybody else can do anything in the Gulf or the Straights of Hormuz to screw with things very much. Before they had the weapons out of the box we’d have destroyed them. How all of a sudden can they cause such mayhem with the oil supply? Mine the Gulf? What a crock. That to sound like a conspiracy theorists but ya know, the first casualty of war is “The Truth.”
It’s not just “Iranian oil”. It’s “all the oil that travels through the Hormuz Strait.” That’s about 20% of world supply. By blocking oil from Saudi Arabia, UAE, Kuwait, Iraq, and others they’ve managed to cut off a significant supply to the West, which given the inelastic supply/demand curve means deep kimchi for everyone. Simply put, when there’s a shortage of chicken you can eat pork or beef or fish, so the demand moderates. When it’s gas, there’s no substitute. Diesel fuels the trucks. Gas fuels the cars. Aviation fuel (kerosene) fuels the airplanes. Diesel fuels the heavy equipment. Ain’t no way to put anything else in the tank, so unless you want industry to stop, you pay the price.
Not a surprise. During the 1973 embargo more than half the population thought it was a hoax. Funny thing when people won’t sell to you on the terms you want, but it’s quite real.
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