Are we tired of winning?
Two assessments of the current war for hydrocarbons.
Above, retired Colonel Douglas Macgregor, former advisor to the Secretary of Defense, under the last Trump regime, and a frequent Fox News guest, who is definitely conservative, but seems rational, gives an assessment of Iran’s capabilities – making me think he will not be on Fox News again any time soon.
Below, further reactions from former Obama officials.
This war is a disaster of historic proportions, and if anyone needed it, further evidence that Republicans do not have the intellect, the disposition, the knowledge or the temperament to lead, and need to be pulled off the podium as quickly as possible and kept in abeyance until they come to their senses.
Reality is starting to set in for the world’s oil traders.
Oil futures have again topped $100 a barrel — the latest surge after days of wild price swings in the market since the United States and Israel first struck Iran. But this uptick came after the International Energy Agency on Wednesday announced that more than 30 countries would release a record amount of oil from their emergency reserves.
Instead of reassuring jittery markets, the news seemed to further spook traders by underscoring how far the world is from reopening trade in the Strait of Hormuz, the narrow waterway and vital trading route that separates Middle Eastern oil producers from their customers. This concern was further reinforced when three ships were attacked in the channel on Wednesday.
Before the war, the strait carried more than 20 million barrels a day, roughly one-fifth of the world’s supply. That traffic is virtually halted. While world leaders agreed to release a record 400 million barrels of oil from strategic reserves, that is only about 20 days worth of oil that would normally flow through the strait.
Might be a FUBAR here but Douglas Macgregor is a retired Colonel, not General. That said, look for a recent interview with this guy done by Tucker Carlson. You will quickly realize that professional soldiers have a better idea of what, and what not, to do during a conflict. And that you never instigate a conflict with so little preparation.
thanks fixed
I think Macgregor overestimates the pain China will be feeling. Yes, it will lose its supply of the cheap oil from Iran, but it was just taking advantages of low prices to build up its humongous strategic petroleum reserve. The people and the companies are both compliant and disciplined, and China should have no problem setting priorities for the 100 days’ worth of import supply they have stockpiled (not counting what they produce domestically).
We US citizens, on the other hand, will squeal like stuck pigs at the hardships we will soon be facing.
Meanwhile, the world will accelerate its adoption of Chinese-made EVs and RE.