this post was submitted on 22 Jun 2025
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Following U.S. strikes on Iranian nuclear facilities on Saturday, the Iranian Parliament has voted in support of closing the Strait of Hormuz, one of the world's most critical oil transit chokepoints, according to media reports.

Any final decision on retaliation, however, will rest with the country's Supreme National Security Council and le

_

Around 20 percent of global oil trade passes through the Strait. Some experts have said that if Iran were to cut off access to the Strait, it could spike oil prices by 30 to 50 percent immediately, with gas prices likewise rising by as much as $5 per gallon.

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[–] [email protected] 5 points 2 hours ago

Parliament has approved it. Hasn’t been ordered yet though by the supreme leader.

[–] [email protected] 16 points 3 hours ago (1 children)

Got an EV, I'll be okay. Sorry republicans, but surely you were expecting this, right? Enjoy the gas prices.

[–] [email protected] 11 points 3 hours ago

even if you have an electric vehicle, the stuff you rely on probably uses oil and gas for production, transportation, whatever.

[–] avidamoeba 4 points 3 hours ago (1 children)

The market seems to be betting that it's not happening.

[–] [email protected] 3 points 1 hour ago

TACO principle.

[–] [email protected] 37 points 6 hours ago (1 children)

Oh boy can't wait for more inflation, war and destruction!

[–] [email protected] 12 points 3 hours ago

don't worry, it'll somehow be Biden's fault

[–] [email protected] 9 points 5 hours ago

Russia Like this! Krasnov did it again. Молодец товарищ Краснов.

[–] [email protected] 9 points 6 hours ago

$300 dollar barrel of oil in 3, 2, 1…

[–] [email protected] 20 points 8 hours ago (2 children)

This must be a very difficult decision. It heavily affects China, as Irans biggest trade partner for oil, as well as the other exporting gulf states Iran tried to normalize relationships with during the last years. Oil prices will go up, Putin will benefit.

[–] [email protected] 3 points 3 hours ago

Is there a way to send that oil they Pakistan?

[–] [email protected] 4 points 4 hours ago

Thankfully there’s a price cap set for russian oil (at least by all the western countries), so not that much benefit for them. Don’t know is asian countries etc. still pay the full market price though.

[–] [email protected] 32 points 9 hours ago* (last edited 7 hours ago) (3 children)

Good on them for being smart about this. Doesn’t always have to be bombs. I thought Trump was supposed to be a good business man.

[–] [email protected] 16 points 5 hours ago

He's never been a good businessman.

[–] [email protected] 4 points 5 hours ago (1 children)

Is that smart? The US largest export is oil. Spiking the prices is what they want too.

[–] [email protected] 5 points 4 hours ago (1 children)

The US charges its people international prices and not based on local extraction costs.

[–] [email protected] 3 points 2 hours ago

It’s not the good of the people that they’re thinking of. The US people are just another market to be exploited. Imagine the profits that the producers can harvest

[–] [email protected] 25 points 9 hours ago (2 children)

You mean that guy that had not one, not two, but three failed casinos?

[–] [email protected] 7 points 3 hours ago* (last edited 3 hours ago)

I think it was 5 casinos and a casino holding company? Brb...

Edit:
Bankruptcies were...
1991: Trump Taj Mahal
1992: Trump Castle Hotel & Casino
1992: Trump Plaza Casino
1992: Trump Plaza Hotel (not a casino, just a hotel.)
2004: Trump Hotels & Casino Resorts
2009: Trump Entertainment Resorts. Which was a casino holding company. Not only did he bankrupt cannons he also bankrupted a company that syphons profits from casinos.

[–] [email protected] 8 points 7 hours ago (1 children)

Apparently that’s good business? Haha

[–] [email protected] 1 points 1 hour ago

He failed Trump steaks!

Who fails steaks? I'm vegan, but who fails steaks???

[–] [email protected] 94 points 11 hours ago (1 children)
[–] [email protected] 24 points 9 hours ago (1 children)

The only way for us to leave the middle east alone is if they have the bomb. The further they are away from possession of the nuke, the more likely we are to invade and generally fuck with them.

[–] [email protected] 3 points 5 hours ago (3 children)

Yes, because Russia and the US have been no trouble at all since they got the bomb.

What we need to do is stop using fossil fuels, and let the Middle East go back to being irrelevant.

[–] [email protected] 6 points 4 hours ago

go back to being irrelevant

Yeah, that was never true, just delusional and wishful thinking. The region has always been relevant that’s why the Greeks and Romans coveted it long before oil.

[–] [email protected] 6 points 4 hours ago (1 children)

The Middle East was probably more culturally relevant before oil. You can't disregard an entire region of the planet because your narrative doesn't want to include them.

[–] [email protected] 3 points 4 hours ago

Billionaires don't want to stick their greasy fingers in culture though.

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[–] [email protected] 79 points 12 hours ago (2 children)

This will just give trump more leverage to drill on protected lands and build pipelines through communities, and seize private property in the US, to satisfy his American oil baron owners.

[–] [email protected] 9 points 9 hours ago (4 children)

Unfortunately the oil we drill can't be refined here. So it doesn't matter if we drill more. We can't do anything with it without sending it east.

[–] Randomgal 11 points 9 hours ago (1 children)

It's okay, kids can build and work the refineries.

[–] [email protected] 9 points 8 hours ago

The children yearn for the 'fines.

[–] [email protected] 6 points 8 hours ago (2 children)

Why can't it be refined here?

[–] [email protected] 5 points 6 hours ago

I was curious, and this is what I found.

As of January 2024, there were 132 operating oil refineries in the United States with an atmospheric crude oil distillation capacity of 18,374,628 barrels per calendar day according to the U.S. Energy Information Administration (EIA).[94]

[–] [email protected] 3 points 6 hours ago* (last edited 6 hours ago)

Here is a video about it. In a nutshell, the oil we are able to pump out of the ground is a much lower quality oil and our infrastructure is not setup to handle the low quality crude oil. In order be able to process it, we would need to spend billions for the infrastructure and it wouldn't make financial sense since the East processes it for so much cheaper.

https://youtu.be/veTbuLu7znc

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[–] [email protected] 21 points 12 hours ago

This is exactly right and needs to be higher. This was either part of the plan or a welcome side effect.

[–] [email protected] 174 points 14 hours ago (2 children)

So, for those watching, as usual, the cost of the war can and will fall most heavily on the poor.

[–] [email protected] 22 points 10 hours ago (4 children)

The poor should rethink their vote next time

[–] [email protected] 17 points 9 hours ago (1 children)

next time

Here's hoping there will even be a next time.

[–] [email protected] 16 points 9 hours ago

If the option to vote with paper is gone try lead.

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[–] [email protected] 28 points 12 hours ago

$10 gasoline here we come.

[–] [email protected] 19 points 11 hours ago

Wow, never saw that coming. Not.

[–] [email protected] 57 points 13 hours ago (1 children)

I really hope they do close it. Time for FAFO.

[–] [email protected] 93 points 13 hours ago* (last edited 13 hours ago) (10 children)

As much as I hate how this is going to affect millions in the US and Iran, and elsewhere, who are already struggling, I don't think anyone in the US will care unless it personally affects their own quality of life, so yeah, part of me agrees with you.

If the gas price skyrockets they will demand Donald's head. Nothing pisses Americans off more than not being able to use their cars.

[–] [email protected] 11 points 9 hours ago

You sure about that? This is MAGA. They will fall in line and say "if Biden didn't fuck this up in the first place.. then...blah blah"

They are all Team players. They will bend the knee like before.

[–] [email protected] 43 points 13 hours ago* (last edited 13 hours ago) (10 children)

Demand for his head, I doubt. They'll just call for a full invasion and taking of the strait and justify the strikes and invasion do to Iran closing it.

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