The Oil War Comes Home - Michael Hudson
The Oil War Comes Home - Michael Hudson
Source: Michael Hudson
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DW NOTE
Hudson frames energy as imperial leverage, but the Hormuz closure is pricing in a different lesson: monopoly transit points are single points of failure, not instruments of control. Iran shut the strait in late June and WTI is up 26% to $106, yet global GDP hasn't collapsed and the U.S. hasn't invaded. The empire that was supposed to turn oil into compliance is now rationing diesel at home while its adversary holds the chokepoint.