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] 24 points 2 days 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.

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[–] [email protected] 202 points 3 days 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] 32 points 3 days ago

$10 gasoline here we come.

[–] [email protected] 25 points 3 days ago (6 children)

The poor should rethink their vote next time

[–] [email protected] 23 points 3 days ago (1 children)

next time

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

[–] [email protected] 21 points 3 days ago

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

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[–] [email protected] 23 points 2 days 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] 12 points 2 days ago

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

[–] [email protected] 120 points 3 days ago (1 children)
[–] [email protected] 31 points 3 days 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] 54 points 2 days ago (1 children)

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

[–] [email protected] 28 points 2 days ago

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

[–] [email protected] 96 points 3 days 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] 26 points 3 days ago

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

[–] jaschen306 13 points 3 days ago (9 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.

[–] [email protected] 17 points 3 days ago (1 children)

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

[–] [email protected] 16 points 3 days ago

The children yearn for the 'fines.

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[–] [email protected] 33 points 2 days ago (7 children)

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

[–] [email protected] 39 points 2 days 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] 29 points 2 days ago (1 children)

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

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[–] [email protected] 8 points 2 days ago

Sorry, all your electricity is needed for AI

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[–] [email protected] 2 points 1 day ago

Update, strait still not closed. Nothing ever happens yet again

[–] [email protected] 60 points 3 days ago (2 children)

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

[–] [email protected] 101 points 3 days ago* (last edited 3 days 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] 48 points 3 days ago* (last edited 3 days ago) (1 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.

[–] [email protected] 30 points 3 days ago* (last edited 3 days ago) (9 children)

There is a portion of MAGA that won't, sure.

But the majority will. This is a war of choice, not necessity, and you saw how quick people were to flip on Harris when it became clear she was comfortable with people being impoverished for no good reason.

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[–] [email protected] 17 points 3 days 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.

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[–] [email protected] 39 points 3 days ago* (last edited 2 days 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 2 days ago

He's never been a good businessman.

[–] [email protected] 35 points 3 days ago (7 children)

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

[–] [email protected] 19 points 2 days ago* (last edited 2 days 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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[–] gigachad 23 points 3 days 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 2 days ago (6 children)

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

[–] atzanteol 11 points 2 days ago

TACO principle.

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[–] [email protected] 15 points 2 days ago (1 children)

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

[–] [email protected] 6 points 2 days 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] 14 points 2 days ago

$300 dollar barrel of oil in 3, 2, 1…

[–] [email protected] 20 points 3 days ago

Wow, never saw that coming. Not.

[–] [email protected] 17 points 3 days ago (1 children)

This is Jack's total lack of surprise.

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[–] [email protected] 16 points 3 days ago* (last edited 3 days ago) (1 children)

The oil price is skyrocketing and countries producing it will earn a lot more. Since Russia started the war on Ukraine, Europe has needed a lot more gas, making countries who produce gas a lot richer. Norway is profiting af from all of this shit.

[–] themoonisacheese 32 points 3 days ago (3 children)

Out of all the countries that could profit from this, Norway is the country I have the lest problems with tbh. Saudi Arabia on the other hand...

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