I would take any supply assurance by any oil minister, with more than a pinch of salt, but rather a huge heaping helping.

We are governed by numbskulls too thick to see the writing on the wall!

Which tells us we have energy independence and total self-dependant independence in our hands, and only prevented by the self-serving numbskulls currently deciding what they can sell, or give away next.

Under their incompetent governance, we have only a reported two weeks of fuel in our national reserve?

If they had vision and a little courage of conviction, we would immediately embrace MSR thorium and a guaranteed gas supply as biogas created in every family domicile.

The problem for our governments is, this is too cheap and cannot be easily used as the governments, all of them, personal ATM's

Climate change sceptics claim this is just invention to garner cash etc. And simply ignores the reality of the average climate scientist remuneration and contrast that paid to fossil fuel CEO's!

If there is a financial imperative and corrupt manipulation at work in the area of climate change? The oil industry is trillions ahead! And risks!

Take the blinkers and blindfolds off!

Alan B.

Just for fun I like to point out occasionally that AlanB's MSR fantasies are fantasies. There is no MSR thorium device anywhere on the planet. None, nada,zilch.

So proclaiming that "If they had vision and a little courage of conviction, we would immediately embrace MSR thorium " is the equivalent of saying airlines should embrace Warp Drive to allow us to get around faster. Somehow AlanB fails to understand that some technology that might exist in the future doesn't exist now.

As to the article, it seems that OilPrice.com never sees a problem that isn't going to be bad news for the oil price.

Taking a more realistic approach to Iran's threat, see this...
http://strategypage.com/on_point/2019072481646.aspx

oh and say thank you to the fracking industry.

If it wasn't for sanctions on Iran and Venezuela the US would've probably already tanked.

Making war on others is the only thing left propping them up.

mhaze,
"Oil hit $60.60 July 10. On July 19, the day Iran seized a British oil tanker, the price moved from $55 to about $56.60 -- about 2 percent."

Forget that, look at what happened on the crypto markets during the same period. 40%
Smart money profiteering from these geopolitical events is in crypto.

As I said on another thread;
"If it wasn't for sanctions on Iran and Venezuela the US would've probably already tanked.
Making war on others is the only thing left propping them up."

Mhaze, Fracking will save the US from any problems, but no one else
will get any benefit from it. The US is JUST self sufficient in crude.
Everyone else will be in the scramble for oil if the Strait is closed.
The tight oil companies are having a hard time keeping their heads
above water and finance is drying up for new drilling.
Peak Fracking is just about here now and there are no major fracking
fields elsewhere.
The other factor is that it will not need any action against shipping
to close the Strait, just Iran saying the Strait is closed will be
enough for the Insurance companies to remove their policies on ships
running the gauntlet.