Iraq-Syria Oil Pipeline to Bypass Hormuz Is 4 Years and $15 Billion Away
The project to ship Iraqi crude to the Syrian Mediterranean coast to bypass the Strait of Hormuz is still at least four years and $15 billion in investments away, sources familiar with the project told Reuters on Monday. The pipeline plan, supported by the U.S. Administration as a way to reduce the
Source: OilPrice.com
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DW NOTE
Iraq is announcing a 4-year, $15 billion pipeline to Syria while the Hormuz closure it's meant to bypass has already been in effect for eight weeks. By the time this is built, the strait will either be open or the global oil market will have restructured around its absence. Either way, the pipeline's rationale expires before the first weld.