Worries about global economic pain deepen as the war in Iran drags on

[Dulcinea]

WASHINGTON (AP) — U.S. and Israeli attacks on Iran have driven up prices, darkened the outlook for the world economy, sent global stock markets reeling and forced developing countries to ration fuel and subsidize energy costs to protect their poorest.

Ongoing strikes and counterstrikes on Persian Gulf refineries, pipelines, gas fields and tanker terminals threaten to the prolong the global economic pain for months, even years.

“A week ago or certainly two weeks ago, I would have said: If the war stopped that day, the long-term implications would be pretty small,’’ said Christopher Knittel, an energy economist at the Massachusetts Institute of Technology. “But what we’re seeing is infrastructure actually being destroyed, which means the ramifications of this war are going to be long-lived.’’

Iran has hit Qatar’s Ras Laffan natural gas terminal, which produces 20% of the world’s liquefied natural gas. The March 18 strike wiped out 17% of Qatar’s LNG export capacity and repairs will take up to five years, state-owned QatarEnergy said.

https://apnews.com/article/iran-us-israel-war-global-economy-oil-1bcb0c616c5ca2e1b6a903c2cd64a4e4

[IbogaProject]

1. Rubio let it slip we wont win

Our Secretary of State the most likely outcome is Iran will get a toll payment for every cargo transiting the strait. I'm guessing that is their hard demand during the "negotiations", where Iran is simply saying what is the minimum they will accept.