We still import 800,000 to 1,000,000 barrels of oil a day from Saudi Arabia alone, to say nothing of the rest of OPECGood thing the US is a net exporter of oil and gas. No longer being held over the middle east oil barrel is a nice feeling. Plus with the waivers going out of effect for some countries still buying Iranian oil (South Korea, India and Taiwan come to mind) those countries can now buy oil from us instead.
Yes, but the pipeline capacity is limited and tankers have to transit the straits to the Gulf of Aden past Yemen, whom the Saudi’s are currently at war with.True, but the Saudis have the pipeline to the red sea so the strait of Hormuz isn't as much a bottleneck to them.
Option #3: The Iranian people string up the mullahs and stop them from causing the country to glow in the dark.Iran has three options 1 close the Strait of Hormuz or 2 close the Strait of Bab al-Mandab or 3 close both straits.
The Strait of Bab al-Mandab is at the southern entrance to the Red Sea. Iran's Allies in Yemen could fire missile at oil tankers in the strait.
Excellent graphics!!Holger Zschaepitzþ @Schuldensuehner · Apr 21
Oil jumps >2% as US to eliminate Iran #oil waivers after May 2 expiration. The current set of waivers -- issued to China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey -- expire May 2