The way we’re getting oil through the strait is still very inefficient/expensive, but shippers now have the ability to get through the strait if people are able to pay those costs. Also there is still a huge risk thatvships will be struck - shippers are charging a premium based on that risk.
Not to mention the US (and I think other countries) have kept prices from going even higher by drawing down petroleum reserves. The economyvis going to have to price in that those reserves will eventually be replenished.
I was going to respond that the prices for both have been slowly dropping lately, but then when I looked just now, crude was up 3% today and brent 4.5%.
Bike tyres are made from petrochemicals, so they will increase in price too. In short, we are all doomed.
Hey! Golf cart tyres are also made from petrochemicals. At last, a way to broach the subject in a way Trump might understand. I mean, no tyres = no carts = golfers must walk = Trump can’t play golf.
It is 4 steps to explain, but the person who does, then succeeds in getting this misadventure in Iraq called off, deserves the Nobel in both Peace and Literature (if a crayon book can be called literature)
- I just plopped $80+ into my gas tank. But maybe other people.