The U.S. and Israel attacked Iran and killed its leadership. For the first time ever, Iran responded with its military dead man's switch to shut down Gulf oil and gas.
We are now in a global energy crisis until further notice.
Read the new @bismarckanlys Brief (link below):
The whole global economy depends on the flow of cheap oil and to a lesser extent gas. Oil is a necessary input for chemical manufacturing, and thus effectively all manufacturing, and for all transportation.
These are fungible global commodities, so everyone feels the price hit.
The Gulf makes 31% of all the world's oil, 27% of all liquid gas exports, and it refines 11% of the world's fuels. It is also a key hub for chemical manufacturing of downstream products like fertilizer and aluminum.
All this is now under threat by plentiful Iranian drones.
Iran is not a typical tinpot dictatorship. It is an urbanized, bureaucratized society with a very unusual theocratic government.
This government has the weapons it needs to achieve its aims despite massive bombardment by the U.S., and there is no sign it will back down now.
Read the whole Brief here: brief.bismarckanalysis.com/p/the-iran-ene…
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