Two points on Iran and the Strait of Hormuz
1. Crude oil accounts for about 85% of Iran's government revenue. Iran exports approximately 90% of its oil via the Strait of Hormuz
2. China is the largest purchaser of Iranian oil. Closing the Strait of Hormuz means China gets less oil than it needs from Iran; thus, China will go elsewhere, possibly to Russia. Not smart to lose a key export market to a swing exporter
Closing the Strait of Hormuz to 90% of your oil exports is like resigning from your high-paying job so you don't pay alimony to your ex-wife
1. Crude oil accounts for about 85% of Iran's government revenue. Iran exports approximately 90% of its oil via the Strait of Hormuz
2. China is the largest purchaser of Iranian oil. Closing the Strait of Hormuz means China gets less oil than it needs from Iran; thus, China will go elsewhere, possibly to Russia. Not smart to lose a key export market to a swing exporter
Closing the Strait of Hormuz to 90% of your oil exports is like resigning from your high-paying job so you don't pay alimony to your ex-wife
Two points on Iran and the Strait of Hormuz
1. Crude oil accounts for about 85% of Iran's government revenue. Iran exports approximately 90% of its oil via the Strait of Hormuz
2. China is the largest purchaser of Iranian oil. Closing the Strait of Hormuz means China gets less oil than it needs from Iran; thus, China will go elsewhere, possibly to Russia. Not smart to lose a key export market to a swing exporter
Closing the Strait of Hormuz to 90% of your oil exports is like resigning from your high-paying job so you don't pay alimony to your ex-wife
