In his recent speech, President Trump suggested that he may end military action against Iran without the United States securing the opening of the Hormuz strait through direct military action. This strait, through which passed much oil designated for European and Asian countries, does not directly impact the United States, which has enormous oil reserves that are not sent through Hormuz. Other countries are more directly impacted by Iran’s illegal actions.
The United States is, however, indirectly impacted by the closure because of the increase in the price of oil which, at least until now, has been globally determined. But why is that so? Oil is a commodity like many others, and nations sell many commodities, with private companies or individual governments setting different prices, depending on many factors. That’s called competition and the open marketplace. But under current practices, oil prices are not subject to the usual competitive marketplace but rather to a price based on a single global market determination.
trump needs to mandate all gas oil reserves produced in the usa stay in the usa. This will drive our energy prices down and the rest of the world can go to hell! They dont want to get involved and make things better so let them use their windmills and solar and live in caves! we get nothing from the middle east other then terrorists!
F em!