My vote is yes, but that’s what Bessent says we are doing.
Worthless in Two Years
The Hill reports Bessent predicts Strait of Hormuz will be ‘worthless’ in 2 years
Treasury Secretary Scott Bessent said Tuesday that the Strait of Hormuz will be “worthless” to the oil industry in two years.
Speaking to Fox Business’s Larry Kudlow on the sidelines of the Group of 20 finance ministers’ summit in North Carolina, Bessent argued the key waterway is “not a choke point” for the U.S.
“In two years, the Strait of Hormuz will be… a worthless piece of water,” he told Kudlow, adding oil “will be going on pipelines across land.”
Assuming Bessent actually believes what he says, the correct policy is open the strait, let Iran collect tolls at a diminishing rate to worthlessness in two years.
Instead, oil prices are soaring, diesel is about to hit an all-time high, we are risking US lives, our air bases destroyed, and we are running out of missiles fighting over something that will soon be worthless.
Also note US oil reserve hits 44-year-low amid Iran war, global energy shortage
The U.S. Strategic Petroleum Reserve has dropped to its lowest level since 1982, Department of Energy data this week showed, revealing the continued drawdown of emergency oil as the nation weathers a global energy shortage.
The reserve shrank by more than 3 million barrels of oil over the week ending on Aug. 28, the DOE said, leaving the stockpile at 286.6 million barrels or about 40% of overall capacity.
At one point, global oil prices climbed above $92 a barrel on Tuesday, after the United Kingdom Maritime Trade Operations said late Monday it had received reports of an oil tanker having been struck by three projectiles off the coast of Oman.
Established after the Arab Oil Embargo triggered an energy crisis in the early 1970s, the Strategic Petroleum Reserve provides an emergency source of oil that is intended to protect the U.S. against a sudden supply crunch.
In some alternate universe these actions are 5-D chess.
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Pipelines don’t move. Seems they’re easy targets.
Bessent told us to change our withholding to exempt to deal with high prices. He’ll say anything just like his master.
At any rate, Iran will have enough hypersonics in 2 years to destroy any new pipelines.
People don’t really get that Iran is a permanently resupplied front via Russia, China, and North Korea, and that Iran hasn’t played all its cards yet. They can make $150+ Brent a reality if they want. They still might.
There was a way to fight Iran. Trump fumbled and now that option is gone. He attacked Iran in the worst way possible with his stupid air power only approach. If there is a WWIII in the future, he probably fucked our strategic position enough to cause us to lose it.
In China, they call Trump “The Nation Builder” for how great his actions are for China. When people try to impeach or assassinate him, they say, “Hang in there Comrade Trump!”
Anyone who comes in contact with the orange clown eventually loses all their credibility. Bessent is currently on deck
– The Strait is a “Major” route of petroleum products for Europe and Asia and is “Critical” for Europe’s energy supply.
> How is a “Major” route going to be useless in 2 years? Are they building another route? Is he only speaking about America’s needs in 2 years? Makes no sense…
– It is also the “Only” maritime route for several Gulf Countries, including the UAE, Qatar, Bahrain, Kuwait and Iraq.
> How is the only maritime route, for several Gulf Countries, going to be useless in 2 years? Are they building another one first? Once again he makes no sense.
This issue is that the current US Administration doesn’t know ‘it’s arse from it’s elbow’ and it just gas lights everybody 24x7x365 and the US voting public just goes along with it.
They could try teaching critical thinking skills in US schools….maybe in the time that they do the flag glorification stuff.
OECD PIAAC 2023 showed the US below average.
I’m no fan of these people….
But in my opinion, here is the real question we should be asking:
Can the world afford two more years of a closed Strait of Hormuz?
I’d like to offer another real question we should be asking:
Can the world afford two more years of the Trump presidency?
The distinction lies in leverage.
Iran can be reasoned with or pressured into opening the Strait.
Donald Trump cannot be persuaded or forced to step down, because the only metric he answers to is his own ego.
Thinking about McConnell I may be wrong but I think death would cause trump to “step down”. Can’t come soon enough as years and billions of dollars worth of damage has already been done.