https://www.juancole.com/2026/05/hormuz-declares-sovereignty.html
"Ann Arbor (
Informed Comment) – The Israeli-US war on Iran launched on
February 28 has created the biggest energy crisis in modern history, causing
gasoline, diesel, fertilizer and fossil gas prices to spike worldwide. Because
Asian refineries were attuned to the exact sort of petroleum exported from the
Persian Gulf, on which they depended heavily, they have been hit the hardest,
though some countries had built up reserves that they are now releasing.
But global petroleum is one big market. It is slightly segmented because there
are different types of petroleum and therefore different types of refineries.
But price spikes work themselves throughout the world over time.
So Europe is also being hit hard, even though it is less dependent on Persian
Gulf petroleum than, say, South Korea and Japan.
Gasoline prices are up some 17% in France, to the equivalent of over $8 a
gallon, and diesel is up 36%.
The French, like all modern nations, are touchy about anything that detracts
from their national sovereignty. They see Netanyahu and Trump, in launching
this unprovoked war of aggression on Iran, as having been guilty of robbing
France of its “energy sovereignty.”
Most of the world feels this way, but the French have a phrase for it."
Via Rod Mesa and Muse.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
