Naval escorts will likely be needed when Strait of Hormuz reopens, Chevron CEO says

[paleotn]

33. Just my 2 cents. In my mind, it's all about risk.

And a kinetic escalation in the strait itself is going to send risk through the roof. That's what keeps tankers and LNG carriers swinging at anchor. Risk and associated insurance cost, if they can even get insurance. Iran is a large country with numerous places to hide things. Limited air strikes, as we've seen so far, aren't going to degrade their capabilities enough to reduce that risk. That would take a much larger mobilization which would make Nov. even worse for Republicans.

We're paying to protect Gulf producers and doing a poor job of it. Anyone with oil outside the Gulf, US frackers, North Sea, Nigeria, Russia, etc., etc., are making out like bandits. Their costs didn't go up much but the price of their product increased ~50%. In that way, Trump's disaster is benefiting US and other oil producers. Just not directly.