Originally Posted by
ORAC
As a follow up to the charts showing Europe only buys about 5% of Gulf oil output as opposed to Asia at about 90% - making keeping Hormuz open very much an Asian problem, it seems the same holds true for Qatari LNG….
I think this may be over-simplifying things. I'm sure historically your numbers are correct. But it is a fact that the world energy market is actual one market. And any load of energy can and will be shifted to where it can sell for the highest price. So what happens on one side of the world affects the price of bread on the other side of the world. And if one country cannot get their usual energy then they will pay silly prices to get it from somewhere else, as the alternative is the electric grid and petrol stations stop working.