The effective closure of the Strait of Hormuz and destruction of Gulf fossil fuel assets is already having effects we’ll be dealing with in months and years to come. No matter how much longer the United States and Israel’s war with Iran lasts, the world’s energy system will be grappling with its consequences at least through the end of the year, if not for far longer. The biggest short-run effects of the Iran ene... [10261 chars]
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