this post was submitted on 04 Mar 2026
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This occurred to me as well, but since Ukraine is destroying refineries etc, this ultimately just accelerates the switch to renewables.
More like it accelerates the oil market of the US.
Russia down and out from sanctions and bombed refineries. The middle east is out from the strait being closed. That leaves the US, the largest producer of oil products in the world, plus its newly stolen oil situation in Venezuela. Indonesia, for example, has already said it will increase imports of US oil.
Because of labor and other costs in the US, oil prices have to go up for extraction to be profitable here. With the strait closed, exactly that is happening right now. Creating the desired conditions for the US to produce even more oil products and simultaneously lock in positions as a world supplier by fucking with every other country that could lower the price. Its quasi-monopolistic