Can anyone speak to the long term impacts of this? Like is gas going to remain high for years (or even worse get rationed) and I should trade in for an EV now?
Iran has continued to fire at tankers exiting the Strait of Hormuz under U.S. Navy escort, and apparently the U.S. can't afford to do anything about it.
The Bab el-Mandeb Strait, which is an alternative route used by the Saudis, is being closed by the Houthis. The Houthis are a close partner of Iran.
And the East-West pipeline, which was another alternative route owned by the Saudis, was blown up. They went for the pumping stations, so repairing it will take at least a month, and there is no way to repair it without it possibly being hit again anyway.
The oil infrastructure attacks by Ukraine are mainly targeting refineries, which would normally lower oil prices, since crude oil is an input to these refineries. These attacks are increasing diesel prices, though.
Iran is trying to break the world economy so the US packs up and leaves. Israel wants to keep the US there because the US is fighting one of their strongest enemies. Because Israel "is the US's greatest ally" (as many politicians have proclaimed over the years), they have a lot of sway as to what the US does. Not to mention, they seem to do whatever they can to derail any peace process.
Iran knows this, and therefore wants to make sure the US experiences enough pain to never come back and try to fight them again.
So, until the US is willing to stop, which rests heavily on when Israel is willing to stop, oil prices will remain high. (Or Iran folds, which they aren't going to do, they've been preparing for years and have seen how the US treated Venezuela - they stole all their oil, and left the regime intact)
Also, we've seen nothing yet, as the soft storage (the amount of oil that's normally floating through rhe global network) and the SPR's are all running dry. I would guess $150 oil in about a month.
What I find interesting is that while the actions of the US have been incredibly foolish and poorly thought through, Iran’s ability to make things hurt is very much a sword that cuts both ways.
There is now very strong incentive to develop alternatives that bypass what Iran can effect, which is exactly what’s happening. It will take a while for the infrastructure to come online, but as the months and eventually years go by, Iran will find its biggest lever for control rapidly diminishing even if the war was stopped now. Likewise, the move to EV’s will likely accelerate.
Americans have proven passive enough that I don’t expect political/military change unless the democrats pull their head out of their ass long enough to win the 2026 November elections and start impeaching and prosecuting the trump regime.
It's not that poorly thought out if you look at it from the right perspective. Iran is the biggest enemy of Israel, and Iran has been significantly weakened. Israel was wiling to roll the dice on regime change in Iran as long as someone else was doing most of the fighting.
The U.S. was a power in decline before the Iran war, and the U.S. population was turning against Israel anyhow, so it made sense to get America to give it one last hurrah before they became useless to Israel.
bix6 · · focus · HN ↗
foo12bar · · focus · HN ↗
The Bab el-Mandeb Strait, which is an alternative route used by the Saudis, is being closed by the Houthis. The Houthis are a close partner of Iran.
And the East-West pipeline, which was another alternative route owned by the Saudis, was blown up. They went for the pumping stations, so repairing it will take at least a month, and there is no way to repair it without it possibly being hit again anyway.
The oil infrastructure attacks by Ukraine are mainly targeting refineries, which would normally lower oil prices, since crude oil is an input to these refineries. These attacks are increasing diesel prices, though.
Iran is trying to break the world economy so the US packs up and leaves. Israel wants to keep the US there because the US is fighting one of their strongest enemies. Because Israel "is the US's greatest ally" (as many politicians have proclaimed over the years), they have a lot of sway as to what the US does. Not to mention, they seem to do whatever they can to derail any peace process.
Iran knows this, and therefore wants to make sure the US experiences enough pain to never come back and try to fight them again.
So, until the US is willing to stop, which rests heavily on when Israel is willing to stop, oil prices will remain high. (Or Iran folds, which they aren't going to do, they've been preparing for years and have seen how the US treated Venezuela - they stole all their oil, and left the regime intact)
Also, we've seen nothing yet, as the soft storage (the amount of oil that's normally floating through rhe global network) and the SPR's are all running dry. I would guess $150 oil in about a month.
CoastalCoder · · focus · HN ↗
Modified3019 · · focus · HN ↗
There is now very strong incentive to develop alternatives that bypass what Iran can effect, which is exactly what’s happening. It will take a while for the infrastructure to come online, but as the months and eventually years go by, Iran will find its biggest lever for control rapidly diminishing even if the war was stopped now. Likewise, the move to EV’s will likely accelerate.
Americans have proven passive enough that I don’t expect political/military change unless the democrats pull their head out of their ass long enough to win the 2026 November elections and start impeaching and prosecuting the trump regime.
throwaway920333 · · focus · HN ↗
The U.S. was a power in decline before the Iran war, and the U.S. population was turning against Israel anyhow, so it made sense to get America to give it one last hurrah before they became useless to Israel.
geoka9 · · focus · HN ↗
Why would they want to change the regime in Iran? If the goal is to hold on to power in Israel.