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] 15 points 4 days ago (1 children)

Russia Like this! Krasnov did it again. Молодец товарищ Краснов.

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[–] [email protected] 14 points 4 days ago

$300 dollar barrel of oil in 3, 2, 1…

[–] [email protected] 54 points 4 days ago (1 children)

Oh boy can't wait for more inflation, war and destruction!

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[–] [email protected] 23 points 4 days ago (2 children)

This must be a very difficult decision. It heavily affects China, as Irans biggest trade partner for oil, as well as the other exporting gulf states Iran tried to normalize relationships with during the last years. Oil prices will go up, Putin will benefit.

[–] [email protected] 5 points 4 days ago

Thankfully there’s a price cap set for russian oil (at least by all the western countries), so not that much benefit for them. Don’t know is asian countries etc. still pay the full market price though.

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[–] [email protected] 39 points 4 days ago* (last edited 4 days ago) (4 children)

Good on them for being smart about this. Doesn’t always have to be bombs. I thought Trump was supposed to be a good business man.

[–] [email protected] 28 points 4 days ago

He's never been a good businessman.

[–] [email protected] 6 points 4 days ago (5 children)

Is that smart? The US largest export is oil. Spiking the prices is what they want too.

[–] [email protected] 7 points 4 days ago (1 children)

The US charges its people international prices and not based on local extraction costs.

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[–] [email protected] 35 points 4 days ago (2 children)

You mean that guy that had not one, not two, but three failed casinos?

[–] [email protected] 10 points 4 days ago (5 children)

Apparently that’s good business? Haha

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[–] [email protected] 12 points 4 days ago

The Orange Turd is the dumbest guy in the room.

[–] [email protected] 19 points 4 days ago

Wow, never saw that coming. Not.

[–] [email protected] 120 points 4 days ago (1 children)
[–] [email protected] 30 points 4 days ago (1 children)

The only way for us to leave the middle east alone is if they have the bomb. The further they are away from possession of the nuke, the more likely we are to invade and generally fuck with them.

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

Yes, because Russia and the US have been no trouble at all since they got the bomb.

What we need to do is stop using fossil fuels, and let the Middle East go back to being irrelevant.

[–] [email protected] 14 points 4 days ago (1 children)

The Middle East was probably more culturally relevant before oil. You can't disregard an entire region of the planet because your narrative doesn't want to include them.

[–] [email protected] 3 points 4 days ago (1 children)

Billionaires don't want to stick their greasy fingers in culture though.

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[–] [email protected] 96 points 4 days ago (2 children)

This will just give trump more leverage to drill on protected lands and build pipelines through communities, and seize private property in the US, to satisfy his American oil baron owners.

[–] [email protected] 13 points 4 days ago (3 children)

Unfortunately the oil we drill can't be refined here. So it doesn't matter if we drill more. We can't do anything with it without sending it east.

[–] [email protected] 7 points 4 days ago (4 children)

Why can't it be refined here?

[–] [email protected] 8 points 4 days ago (1 children)

I was curious, and this is what I found.

As of January 2024, there were 132 operating oil refineries in the United States with an atmospheric crude oil distillation capacity of 18,374,628 barrels per calendar day according to the U.S. Energy Information Administration (EIA).[94]

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[–] [email protected] 8 points 4 days ago* (last edited 4 days ago)

Here is a video about it. In a nutshell, the oil we are able to pump out of the ground is a much lower quality oil and our infrastructure is not setup to handle the low quality crude oil. In order be able to process it, we would need to spend billions for the infrastructure and it wouldn't make financial sense since the East processes it for so much cheaper.

https://youtu.be/veTbuLu7znc

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[–] [email protected] 3 points 4 days ago (1 children)

The US has been a net exporter of refined petroleum since 2010.

[–] [email protected] 8 points 4 days ago

Yeah but it's not the same quality or type of oil that the Middle East has. However Alaska does have that type of oil...

[–] [email protected] 17 points 4 days ago (1 children)

It's okay, kids can build and work the refineries.

[–] [email protected] 16 points 4 days ago

The children yearn for the 'fines.

[–] [email protected] 26 points 4 days ago

This is exactly right and needs to be higher. This was either part of the plan or a welcome side effect.

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