Originally Posted by
DogTailRed2
If we can't open the Strait what happens when the oil runs out? What's plan B?
It's a complex issue. Besides the kinetic war going on at the moment there has long been an economic war with Iran focusing on sanctions against the benighted country.
Most recently Iran has offered to sell oil to China in Yuan. Perhaps also to other nations. This is a way of encouraging a move away from the petrodollar which, in turn, is a threat to the US economy which relies on the dollar being the World's reserve currency. There are tutorials on how the petrodollar works on YouTube should you wish.
So, Iran seems to allow oil and gas exports through the SoH if payment is not made in petrodollars.
https://www.chosun.com/english/world...NUI3C5SX3XFR4/
Notwithstanding this, human ingenuity and the wish to make a buck or two are going to make other sources of petrochemical products available. The USA and Russia are likely to be net winners here
The current oil market looks something like this:
https://www.forbes.com/sites/christo...ng-out-of-oil/
A drop in the proverbial barrel will also be the reopening of the iraq Kurdistan pipeline. The KSA East West pipeline with a capacity of around 7 bbl/day will relieve some pressure however, the Houthis have been very quiet of late and may well be primed to interdict supplies heading East.