Can the world get its supply of oil by bypassing the Strait of Hormuz?

verdverm

tl;dr https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headline... Many other things pass through the straight besides oil

atoav

*Can the world have an American President that for once doesn't start pointless wars to distract from internal scandals?

wat10000

Tautologically yes. Whatever the world gets is its supply. Depending on how much can be done to bypass the Strait, that supply may diminish substantially. Already has, I suppose. It would be nice if this was the thing that finally kicked governments into gear to get off our reliance on oil. But I don’t think 20% is quite big enough to make that happen.

fhub

For a less simplistic look at a similar question I'd recommend this article. https://hyperfocusinhalifax.substack.com/p/why-arent-oil-pri...

alecco

Eventually, yes. But 1) it's not a magic tap on/off, 2) refineries are specialized for specific types of oil, 3) a lot of ships are stuck there, 4) wells and refineries usually take a long time to restart. Serious oil traders are saying it will take months or even more than a year to get back to normal. The only thing containing prices at the moment is many exporters sold futures to lock-in prices for the rest of the year (it wasn't market manipulation as many suspected). But once they are sold out we'll have some interesting price discovery. https://www.tradingview.com/symbols/ICEEUR-BRN1!/forward-cur... https://www.tradingview.com/symbols/NYMEX-CL1!/forward-curve...

ZebusJesus

Is it possible yes, is it feasible absolutely not

jleyank

Don’t forget the world needs LNG and the stuff made from petrochemicals such as fertilizer. They need to make chem plants as well as refineries to go with drilling new wells and run them harder. Get Venezuela up, but that’s probably O(years). Is there enough copper and power to get those ev stations up in the us? Cuz now’s their chance.