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] 22 points 10 hours ago (1 children)

Iran has the right to defend itself.

Oil going up in price won't be necessarily a bad thing, oil is underpriced relative to historical highs.

[–] [email protected] 3 points 10 hours ago

Trump wants more local oil production, but the price doesn't warrant it, this is how they do it.

[–] [email protected] 20 points 11 hours ago (1 children)

Man would I love a montage of hidden camera footage of cousin-fucking Trump supporter's faces as they look at the skyrocketing gas prices when they go to the pump.

Get your Trump "I did that" stickers ready.

[–] [email protected] 10 points 10 hours ago

I don't think they'll recognize a price difference unless Fox news tells them about it.

[–] ILikeBoobies 2 points 10 hours ago

And they’re right to do so

[–] [email protected] 32 points 20 hours ago (4 children)

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

[–] [email protected] 34 points 14 hours ago

I've noticed that everyone only sees oil from a personal perspective. If gas prices spike, every price spikes. On top of that, oil is used for 1,000 purposes apart from internal combustion engines. The shockwaves from the planetary economy crashing would be appalling. Here's a tiny, tiny example:

Your city has a budget for mowing grass, parks & rec, all that. If higher prices run that budget out, the work simply stops. Multiply that by 1,000,000 other like cases.

An EV will only save you the gas station bill. It won't save you from everything else that will crumble.

[–] [email protected] 7 points 10 hours ago

Sorry, all your electricity is needed for AI

[–] [email protected] 27 points 19 hours ago (1 children)

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

[–] [email protected] 3 points 12 hours ago* (last edited 12 hours ago)

In the US, specifically, higher oil prices feed into higher prices for the fertilizer used in raising corn, which in turn feeds into higher corn prices, which then feeds into almost all food because in the US corn is used directly or indirectly in food to truly insane levels (for example, cattle is fed corn even though it's not natural and causes health problems hence the overused of antibiotics for cattle in the US and sugar is mainly chemically processed corn).

In other countries it's a bit easier to isolate oneself from the indirect effects of oil price rises if you don't drive ICE vehicles and eat locally grown food because this pathway from "oil" to "almost all food" is either not present or far weaker.

Mind you, I agreed that you can never isolate yourself totally from it unless you're some kind of hermit living in your own cave disconnected from everything else and growing your own food using 100% natural agriculture.

[–] [email protected] 1 points 10 hours ago (2 children)

Heh, probably the only piece of good news the cybertruck owners will ever get.

Not saying you own one of those or anything, but thinking it must be the first positive they've seen in ages.

[–] [email protected] 2 points 4 hours ago

No, no Tesla's for me

[–] [email protected] 3 points 10 hours ago (1 children)

I don't know, tow trucks still use gas, so they may still suffer some knock on effects.

[–] [email protected] 1 points 10 hours ago

Yeah, there's no outweighing the downsides. Hell if you just look at the depreciation, they'll never make the loss back and fuel even if they had no problems.

[–] [email protected] 4 points 13 hours ago

You’re move “tactician” Trump.

[–] [email protected] 54 points 23 hours ago (1 children)

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

[–] [email protected] 28 points 19 hours ago

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

[–] avidamoeba 13 points 19 hours ago (2 children)

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

[–] [email protected] 11 points 17 hours ago

TACO principle.

[–] [email protected] 3 points 14 hours ago (3 children)

I'm betting it's not happening. The collective wrath of a dozen militaries would drop on their head.

[–] [email protected] 7 points 12 hours ago* (last edited 11 hours ago)

The reaction of the rest of Europe to Trump's attack would lead Iran to expect that the usual suspects in Europe would attack Iran either way, same as they did back when America invaded "WMD" Iraq.

Certainly were I am (Portugal, which by the way also sent troops to Iraq) there are already people from America and Israel-aligned far-right think-tanks being invited to news segments on public TV about the American attack, where they're complimenting Trump on his action, calling it a "massive victory to Netanyahu" and scaremongering against Iran with exactly the same kind of "arguments" as were used for Iraq (Iran has WMDs, Iran is developing missiles which can reach European cities and so on), so the Manufacturing Consensus machinery is already running.

[–] [email protected] 0 points 8 hours ago (1 children)

Sounds like those militaries need some nukes dropped on them.

How about this? Stop fucking with other people’s shit. If Iran wants to protect itself, it has every right to do so. And that means closing the shipping lanes they ALLOW others to use.

[–] [email protected] 1 points 7 hours ago

Are you under the impression that Iran owns the Straight? We just gonna chunk international waters and maritime laws out the door?

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[–] [email protected] 118 points 1 day ago (1 children)
[–] [email protected] 30 points 1 day ago (6 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.

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[–] [email protected] 198 points 1 day ago (8 children)

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

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[–] [email protected] 8 points 18 hours ago

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

[–] [email protected] 15 points 21 hours ago (1 children)

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

[–] [email protected] 6 points 14 hours ago

I know what you mean, but Russia wanting its primary Middle Eastern ally destroyed just to hope oil prices will hike is a bit out there.

[–] [email protected] 39 points 1 day ago* (last edited 23 hours ago) (10 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] 28 points 21 hours ago

He's never been a good businessman.

[–] [email protected] 34 points 1 day ago (7 children)

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

[–] [email protected] 19 points 20 hours ago* (last edited 19 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.

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[–] [email protected] 95 points 1 day ago (12 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.

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[–] [email protected] 23 points 1 day 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.

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[–] [email protected] 14 points 22 hours ago

$300 dollar barrel of oil in 3, 2, 1…

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