The factoid thrown around is that roughly 20% of the world’s oil supply travels through the Strait of Hormuz. Since it closed, my local gas prices in one area of the US midwest have gone from $2.60 to now $4.10 presumably as reserves have been used up.

I could understand a 20~30% increase in price to correlate with the reduction in supply, but what are the economic factors that lead to what feels like such a disproportionate increase?

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[–] 1 point 6 months ago

But the reality of your hypothetical situation would be fighting not bidding. So I call bullshit on your story.

Supply is controlled, demand is artificially created and nurtured by capitalists because its a way to capture the market.

We are all being manipulated into thinking they are honest when the exact opposite is true.

The straights of Hormuz is closed because the fascists/capitalists are making money, plain and simple.

Good luck living in their reality. Tell the fox that you are not hens and you might survive.

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