The joint U.S. and Israel war with Iran has triggered an energy crisis that is only deepening. Now President Donald Trump seems to be unexpectedly and unintentionally pushing the world away from oil and natural gas, a trend that may only expand the longer the war continues.
The Iranian government has asserted their control of the Strait of Hormuz, a crucial waterway through which about one-fifth of the world’s crude oil and liquid natural gas transits. Acting as a natural chokepoint, only ships from countries friendly to Iran have been able to pass the strait, limiting the amount of oil and natural gas leaving the Persian Gulf. So far, ships from Turkey, India and Pakistan have been allowed to pass, though other countries are in talks to arrange passage.
