CHART OF THE DAY: This is how the IMF believes the oil market has adjusted to the Strait of Hormuz disruption.
โThe global economy as a whole has, so far, weathered the shock from the war better than feared,โ the IMF said in an update of its World Economic Outlook report.
My latest contribution to @TheDispatch Energy:
๐๐ ๐๐ถ๐ด ๐ข๐ถ๐น โ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ผ๐๐ด๐ถ๐ป๐ดโ?
Reduced global refinery capacity, not corporate greed, is keeping pump prices high.
Free to read:
https://t.co/Lyiir85nf0
@prasroy@HormuzLetter They donโt seem to be attacking israel either. Very strange. I would have thought they would jump on the opportunity to help out Hezbollah in northern Israel.
@GmOrr9000@araghchi Well, itโs clear to me that this is all bullshit. You skipped right over the fact that they already have a pluralistic society. Claiming theyโre incapable of one doesnโt make it so. Very Trumpian of you.
@I_Am_AWWESOME@ZiggyWumpus@HormuzLetter I think this is consistent with Iranโs interpretation of the MOU. But even if you want to argue that it isnโt, itโs not like they were the first ones to break the MOU why would they continue to respect it when the other side isnโt?
The MOU specifically gave Iran, and only Iran, the right to manage the passage of ships through the straits of Hormuz. Iran published protocols, which all of the shippers are aware of, for safe passage. When ships violate those protocols, they will be stopped. Iran has been very clear about this. Itโs not terrorism. It is completely consistent with the terms of the MOU.
@curtisdkruger@RedWavePress Please. The US and Israel threw away their investments in international law a long time ago. Practically speaking, there is no such thing as international law anymore. You chose the rules now youโre going to have to live by them.
@tylerb677068@RedWavePress You can go โfull-blown fucking warโ but thatโs never going to โend this shit.โ The only option you have is to walk away. However, Donald Trump is handicapped in this regard. He could never bring himself to do it. Ergo, we will have higher oil.