Thank you for your posts over the last couple of months. They're very informative. However, I'm dubious that the Strait of Hormuz will be reopening anytime soon, no matter what the effect on the Iranian or worldwide economy. This is turning into a geopolitical quagmire from which there appears to be no escape.
I wonder if the new net oil exports is so small a matter. Figures from 2023 that I've seen put oil as a sixth of total exports by the US of that year. The US is threatened with the loss of this export by the transition to renewables -one reason I suspect for the hostility of the current administration to renewables. But how big an effect will all this have for the dollar - the loss of this new net export could be of considerable effect on morale I would think. Ian
Thank you for your posts over the last couple of months. They're very informative. However, I'm dubious that the Strait of Hormuz will be reopening anytime soon, no matter what the effect on the Iranian or worldwide economy. This is turning into a geopolitical quagmire from which there appears to be no escape.
I wonder if the new net oil exports is so small a matter. Figures from 2023 that I've seen put oil as a sixth of total exports by the US of that year. The US is threatened with the loss of this export by the transition to renewables -one reason I suspect for the hostility of the current administration to renewables. But how big an effect will all this have for the dollar - the loss of this new net export could be of considerable effect on morale I would think. Ian
Oil is priced in dollars but used by non dollar countries therefore dollar strength implies a weaker dollar oil price