It is difficult to take perspective on historical events when you are inside them. Let’s see if this helps. The director of the International Energy Agency estimates that the world is losing 11 million barrels of oil a day, more than the energy crises of 1973 and 1979… combined! It is equivalent to two oil crises and one gas crisis, all together.
Meanwhile, Trump issued an ultimatum to the Iranians this weekend. The Revolutionary Guard sees the problem and ups the ante. The US president gave Iran 48 to reopen the Strait of Hormuz and, if not, threatens to attack its power plants. And the Iranian regime has responded with another threat: if Trump attacks, it will close Hormuz and attack water desalination plants vital to its Gulf neighbors.
That is, the US threatens to destroy Iran. And Iran, the global economy. And the truth is that both can achieve their goals. It is normal for the stock markets to collapse, increasingly aware that in this buzzed cockfight we all lose.
Stock markets fall, oil rises. The Energy Agency is considering releasing more barrels of oil in storage for ‘just in case’ storage. But the size of this ‘just in case’ was not foreseen. 400 million barrels of oil have already been released to control the shock, that is, more than 20% of the total reserves. But the negotiations between the US president and the replacement ayatollahs grow and that reserve decreases.
Are we really aware of what is at stake? Well, it doesn’t help much that the White House is sharing videos of the war with the Macarena song, the Call of Duty song, and even a game of bowling armed with rifles labeled “Iranian Officials,” who are hit by a ball with the American flag that transforms into an airplane. The Iranian regime also shares frivolous animations for networks of how it bombs ships in the Strait of Hormuz while an angry Trump face with an emoji. And so there is no one to take perspective.
Moral?
They threaten to leave the world in ruins
as if they were playing minesweeper
