Strait of Hormuz siege threatens global energy collapse as Trump dismisses $100 oil as ‘small price’ for Iran war
With Iran’s retaliatory closure of the Strait of Hormuz following U.S. and Israeli strikes, one-fifth of the planet’s daily oil supply is now under direct siege. From the gas pumps of California to the heating systems of Europe, every citizen will soon feel the devastating financial shockwaves. The Trump administration, harboring an inflated view of U.S. military invincibility, has miscalculated. The American people will foot the bill for generations through crippling food and energy inflation and spikes in energy prices that will strain budgets that are already on the brink.
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