Frank N. Newman
The Iranian IRGC is using the closure of the Strait of Hormuz to put economic pressure on the U.S., especially through higher gas costs for Americans. But America does not depend on oil sent through that passage, and the closure does not provide any good reason for U.S. gasoline prices to increase.
Kuwait, Qatar, Iraq, and Bahrain have no alternative to shipment through the Strait of Hormuz. But that oil is shipped largely to Asia–notably China, India, and Japan. Only very small portions of the oil shipments sent through the Strait are destined for the U.S. There is no reason for U.S. consumers to face big increases in gas prices just because supplies from the Middle East to Asia have been impeded.
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