Risk, Oil Tankers and a Scrambling White House
Here’s a very interesting detail about risk, economics and military power that is kind of under the headlines in the expanding U.S.-Iran War. Iran is in a very, very bad position. Its military and deterrent power have already been badly damaged over the last three years. And it’s facing the top regional military power (Israel) and the top global military power (the U.S.) at the same time. It’s best bet to bring the war to a stop is to create huge international pain, and the best way to engineer that is to throttle oil deliveries from the Middle East, specifically by threatening shipping through the Strait of Hormuz.
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