Subject: Re: Strait closed to infinity
I‘d look out for the situation becoming untenable at home - prices at the pump? Stocks? Bonds? - and the regime’s objectives may change on a dime. We‘ll see.

From the CEO of Chevron:

What Chevron’s CEO said about gas shortages

“We will start to see physical shortages,” Wirth said, noting that surplus supply in commercial markets, tankers in so-called shadow fleets avoiding sanctions, and national strategic reserves were all being absorbed,

“Demand needs to move to meet supply,” he said. “Economies are going to have to slow.”

Wirth was specific about the sequence. Asia is the most exposed region because it is most heavily dependent on Middle Eastern oil and gas. Japan, for example, sources approximately 95% of its oil imports from the region,

Europe is expected to feel the impact next. Asia was already responding: Japan received its first crude shipment from Russia’s Sakhalin Island in two years just this week as importers scramble for alternative supply.

The United States, as a net exporter of crude, is less exposed than Asia or Europe. But Wirth was clear that no economy is immune. He pointed to a specific data point to illustrate how close the disruption is to U.S. end markets: The last scheduled Gulf shipment was being offloaded at the Port of Long Beach, which supplies Los Angeles and Southern California, according to Reuters.

https://www.thestreet.com/econ...

The Beeb has been reporting shortages in the Philippines for weeks. Spot issues with supply in Australia. I heard an analyst, a few days ago, say it will get real for the US in two or three months. Meanwhile USian financial markets continue to move on what comes out of Trump's pie-hole.

Steve