For years I have had deep respect for Mohamed El-Erian's opinions on world economics. For those interested in the implications of the current gulf war, his pronouncements are worth heeding. I would also recommend monitoring Al Jazeera English via YouTube or listening in to Bloomberg this coming Sunday night to get an advance indication of how severely world crude oil prices are going to spike Monday. The carry-on effect will be a major hit to U.S. equity markets. And the world economy.
I've seen reports on Al Jazeera this morning that Iran has already countered the U.S. attack on Kharg Island with an attack at Fujairah, which is the terminus for a pipeline bypassing the Gulf of Hormuz. That alone would be enough to spike oil prices as soon as the markets open.
Let me remind everyone that trump and his henchmen killed 170 little girls. I would trade the entire US government to get them back. https://www.npr.org/2026/03/11/nx-s1-5744981/pentagon-iran-missile-school-hegseth
ReplyDeleteIf only there was a way to be less dependent on oil. By riding transit, biking or electric vehicles.
ReplyDeleteSadly, the current administration is actively frustrating progress on any of these modes of transportation to the point that they are ripping out EV charging stations at federal buildings, trying to kill the most important rail project in the US between NJ and NY and generally pretend all transit is terrifying.
Your entire society runs on oil, from food production to clothes making, manufacturing, shipping, trucking, airlines, plastics, power generation, fertiliser, tarmacadam ... and more ... scrap your car, ride your bike, use a paper straw, it makes no difference. We need oil.
DeleteThe social costs of this war will be terrible, all across our globe, and I don't think many people grasp the enormity of the unintended consequences. Even if it ended today, things are going to be quite bad. I'm terribly concerned for all of humanity, but feel so helpless, and frankly a bit hopeless, as I don't believe trump has any intention of living up to his TACO name, for once.
ReplyDeleteHere comes 1929
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