The Strait of Hormuz has been effectively closed for seven weeks. Tanker traffic has cratered, regional production has plummeted by the most on record, and global energy prices have rocketed. In the United States, businesses are paying higher input costs, and consumers feel like it’s 2022 again. But the broader US economy could be relatively unscathed by the war in Iran as the world rushes to buy America’s oil, providing a cushion for growth prospects.
Most Wanted: America’s Oil
Read Full Article: https://www.libertynation.com/the-world-is-begging-for-americas-oil/
