@CFR_org Poor implementation of GATT and related trade agreements would be one of the highest -ves, but not solely in the US's wheelhouse. Trade liberalization policies needed to be linked to minimum wage reforms in low cost economies benefitting from GATT.
@CFR_org I pretty much agree with these lists except that GATT should have gotten a guernsey on the +ve side & abandoning global rules based order pretty high on the -ve. The 2003 Iraq invasion was the root of populist de-globalization that now risk ending the world.
@rich_goldberg oil didn't hit $200 and the US only had to:
💠drain Strategic Petroleum Reserve
💠be on the brink of making a deal that destroys Freedom of Navigation
💠leaves Iran's capacity to enrich uranium entirely intact
But oil<$200 =💯 The US strategic goal of the war has been met. 🙄
@robin_j_brooks The US has been entirely profligate with the use of its SPR to keep a lid on the crude oil price. As a result, they have cut off many of the tactical options they may have had to prosecute this war successfully over a much longer period (a possible, but never likely outcome).
@JavierBlas@opinion Bypasses will take decades to complete... At the current drawing rate the US SPR has at most about 10 weeks of cushion for any other workaround
@bahramm53@tom_bike doesn't look right. @tom_bike confirms https://t.co/kXFcRnTAeD below that there is not a flood of sneaky vessels going dark through the Omani corridor
@aeberman12@ericnuttall maybe @ericnuttal's point is that once you get below 300mm you can no longer draw at rates to cover for the loss of supply from Hormuz due to loss of pressure etc?