Restless Arteries: Blockades and Power
The article focuses on the power balances and strategies related to vital oil passages such as the Strait of Hormuz and the Bab el-Mandeb Strait. It explains how the movement of oil through these chokepoints influences global energy prices, despite the presence of ample physical reserves. The piece addresses the risks of blockades and military tensions that increase transit costs and create market uncertainties. It reflects how political security and economic considerations are closely intertwined, with countries, manufacturers, and governments making decisions based on potential risks rather than current flows alone. The article also highlights the issue of "counter-blockades" and their impact on the region and the world. It emphasizes the need for a political system that balances the protection of energy resources with the enhancement of civilian lives, rather than relying on coercive language and strangulation to achieve stability.
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