alt Hacker NewsBut the US already buys only 8% of it's oil from the Middle East. How long do you think they will care to help people that don't want to help themselves? It's more likely they will stop selling to Europe.
If I had to guess, I think American oil companies that operate in the strait selling oil to Europe are the only reason the US is still working so hard to control the strait. It's a lot of money on the table. But it's certainly not for Americans, just for a few rich American oil companies and their European customers.
1. Oil is a global market. Global supply and demand affects prices everywhere.
2. Oil isn't the only commodity that is at stake here. The closure of the Strait of Hormuz has disrupted the global helium supply, for instance, and helium is used in critical products Americans need.
3. Asia relies heavily on oil and other commodities that pass through the Strait of Hormuz. Asia is the factory of the world and manufactures tons of the goods that are exported to the US, from clothing to electronics. Obviously, an energy crisis in Asia has the potential to disrupt American supply chains.
4. The petrodollar system creates artificial demand for US dollars. This is a massive financial and soft power benefit to the US. If Atlas shrugs and the petrodollar system starts going away, the rebalancing/recalibration that takes place is not going to be very pleasant for Americans.