No. of Recommendations: 3
<Venkman>
Dogs and cats, living together, Mass hysteria!
</Venkman>,
Not much of a response. I don't think there's really much dispute that if the Straits remain closed for an extensed period of time it would cause massive disruption in the global economy. The IEA can replace the lost output of oil (though not of the agricultural products and industrial feedstocks) for a short period of time, but at 20 million bpd they realistically can only do that for three to four weeks.
Do you really think that wouldn't result in a significant economic downturn?
