this post was submitted on 22 Jun 2025
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Following U.S. strikes on Iranian nuclear facilities on Saturday, the Iranian Parliament has voted in support of closing the Strait of Hormuz, one of the world's most critical oil transit chokepoints, according to media reports.

Any final decision on retaliation, however, will rest with the country's Supreme National Security Council and le

_

Around 20 percent of global oil trade passes through the Strait. Some experts have said that if Iran were to cut off access to the Strait, it could spike oil prices by 30 to 50 percent immediately, with gas prices likewise rising by as much as $5 per gallon.

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[–] [email protected] 2 points 3 days ago

Update, strait still not closed. Nothing ever happens yet again

[–] [email protected] 2 points 3 days ago

And they’re right to do so

[–] [email protected] 24 points 3 days ago (1 children)

Iran has the right to defend itself.

Oil going up in price won't be necessarily a bad thing, oil is underpriced relative to historical highs.

[–] [email protected] 3 points 3 days ago

Trump wants more local oil production, but the price doesn't warrant it, this is how they do it.

[–] [email protected] 23 points 3 days ago (1 children)

Man would I love a montage of hidden camera footage of cousin-fucking Trump supporter's faces as they look at the skyrocketing gas prices when they go to the pump.

Get your Trump "I did that" stickers ready.

[–] [email protected] 12 points 3 days ago

I don't think they'll recognize a price difference unless Fox news tells them about it.

[–] [email protected] 4 points 3 days ago

You’re move “tactician” Trump.

[–] [email protected] 9 points 4 days ago

Parliament has approved it. Hasn’t been ordered yet though by the supreme leader.

[–] [email protected] 14 points 4 days ago (2 children)

The market seems to be betting that it's not happening.

[–] [email protected] 3 points 3 days ago (3 children)

I'm betting it's not happening. The collective wrath of a dozen militaries would drop on their head.

[–] [email protected] 0 points 3 days ago (1 children)

Sounds like those militaries need some nukes dropped on them.

How about this? Stop fucking with other people’s shit. If Iran wants to protect itself, it has every right to do so. And that means closing the shipping lanes they ALLOW others to use.

[–] [email protected] 1 points 3 days ago

Are you under the impression that Iran owns the Straight? We just gonna chunk international waters and maritime laws out the door?

[–] [email protected] 7 points 3 days ago* (last edited 3 days ago)

The reaction of the rest of Europe to Trump's attack would lead Iran to expect that the usual suspects in Europe would attack Iran either way, same as they did back when America invaded "WMD" Iraq.

Certainly were I am (Portugal, which by the way also sent troops to Iraq) there are already people from America and Israel-aligned far-right think-tanks being invited to news segments on public TV about the American attack, where they're complimenting Trump on his action, calling it a "massive victory to Netanyahu" and scaremongering against Iran with exactly the same kind of "arguments" as were used for Iraq (Iran has WMDs, Iran is developing missiles which can reach European cities and so on), so the Manufacturing Consensus machinery is already running.

[–] [email protected] 1 points 3 days ago
[–] [email protected] 11 points 3 days ago

TACO principle.

[–] [email protected] 33 points 4 days ago (4 children)

Got an EV, I'll be okay. Sorry republicans, but surely you were expecting this, right? Enjoy the gas prices.

[–] [email protected] 7 points 3 days ago

Sorry, all your electricity is needed for AI

[–] [email protected] 1 points 3 days ago (2 children)

Heh, probably the only piece of good news the cybertruck owners will ever get.

Not saying you own one of those or anything, but thinking it must be the first positive they've seen in ages.

[–] [email protected] 2 points 3 days ago

No, no Tesla's for me

[–] [email protected] 3 points 3 days ago (1 children)

I don't know, tow trucks still use gas, so they may still suffer some knock on effects.

[–] [email protected] 1 points 3 days ago

Yeah, there's no outweighing the downsides. Hell if you just look at the depreciation, they'll never make the loss back and fuel even if they had no problems.

[–] [email protected] 39 points 3 days ago

I've noticed that everyone only sees oil from a personal perspective. If gas prices spike, every price spikes. On top of that, oil is used for 1,000 purposes apart from internal combustion engines. The shockwaves from the planetary economy crashing would be appalling. Here's a tiny, tiny example:

Your city has a budget for mowing grass, parks & rec, all that. If higher prices run that budget out, the work simply stops. Multiply that by 1,000,000 other like cases.

An EV will only save you the gas station bill. It won't save you from everything else that will crumble.

[–] [email protected] 29 points 4 days ago (1 children)

even if you have an electric vehicle, the stuff you rely on probably uses oil and gas for production, transportation, whatever.

[–] [email protected] 4 points 3 days ago* (last edited 3 days ago)

In the US, specifically, higher oil prices feed into higher prices for the fertilizer used in raising corn, which in turn feeds into higher corn prices, which then feeds into almost all food because in the US corn is used directly or indirectly in food to truly insane levels (for example, cattle is fed corn even though it's not natural and causes health problems hence the overused of antibiotics for cattle in the US and sugar is mainly chemically processed corn).

In other countries it's a bit easier to isolate oneself from the indirect effects of oil price rises if you don't drive ICE vehicles and eat locally grown food because this pathway from "oil" to "almost all food" is either not present or far weaker.

Mind you, I agreed that you can never isolate yourself totally from it unless you're some kind of hermit living in your own cave disconnected from everything else and growing your own food using 100% natural agriculture.

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