The world currently produces 100 million barrels of oil per day.
Let us say that the Iran War shuts the spigots on 10 percent of that, or 10 million barrels per day.
Trump's release of 172 million barrels from the strategic petroleum reserve in the US, plus the International Energy Administration's announcement of 400 million barrels of release from global reserves, detailed here, is 57 days of relief. (That's if the two releases are separate; if not, 40 days.) More on the IEA move here; if you're wondering, that would be one-third of its reserve. If Iranian damage to Gulf Arab refineries is severe enough, that won't be easily replenished. The US reserve has about 415 million barrels, per CNBC. So, this would be about 45 percent.
Is Trump still hoping he can force Iran's ruling regime to collapse? Won't happen.
The end of the month until the US can escort tankers? That 10 million barrels of damage by Iran might be small.
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"Iranian drones could strike California!" Change "Iranian" to "Japanese," "drones" to "submarines," and we're right back in 1942. Only this is surely Trump Admin rumor-mongering with even less basis in fact, targeting California cuz California.
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As for the fallout? It's more than oil prices, at least in Merikkka. How direct the connection is, I don't know, but mortgage rates are going up in Middle America. Homeowners will notice that soon after gas prices.
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Since Sen. Mark Kelly has beat the rap on his unlawful orders comment, due to this thing called the First Amendment, does he think Trump has issued unlawful orders to start the Iran war? You're pretty quiet, Mark. Well, you did say something about how the Senate needs to return to Washington and do its duty, but you're otherwise quiet.
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Meanwhile, the car ramming of the Dearborn synagogue? Without condoning it? Anti-Zionism is not antisemitism. Blowback, even when indirect, is still blowback. Non-Zionist Jews as well as goys have been warning against this since Oct. 7, 2023.
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