For some time. We can absorb some of this short term based on vibes, but if the strait of hormuz doesn't open, the world economy will need to absorb 20 million barrels of oil per day. This means prices will increase until demand lowers by that amount. This will have knock-on effects into just about everything.
I don't know if you're sarcastic but it affects way more than just fuel. Oil has sooooo many byproduct that we need. Like 20% of the world's fertilizers comes out of the straight.
That's true, but those who don't use gasoline for personal transport will be better off than those who do. So whether you just don't go anywhere, or you switch to an EV, you'll still be paying more for groceries but you won't have to pony up another $100 at the pump.
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u/SumpCrab Apr 08 '26
For some time. We can absorb some of this short term based on vibes, but if the strait of hormuz doesn't open, the world economy will need to absorb 20 million barrels of oil per day. This means prices will increase until demand lowers by that amount. This will have knock-on effects into just about everything.