Most people of a certain vintage think back to 1973 when seeking a historical parallel to the global energy crisis radiating from the Third Gulf War. While the comparison is usually made too quickly, it is directionally correct: America and the world will soon be in the grips of an energy crisis as dramatic and as world-historically transformative as the one that defined the 1970s.
Around 20 million barrels a day move through the Strait of Hormuz, roughly 20% of global consumption and nearly a third of all seaborne oil trade.
Read the full piece at UnHerd.