The world depends on oil for everything. A lot is transportation (40% I believe) but the rest is petrochemicals.
Nearly all of that flows through SoH. There are pockets elsewhere but it’s not really significant in the grand scheme of things.
Ironically, oil-producing countries don’t really refine their own oil.
Oil transportation instability leads to countries “securing” their own oil. By any means necessary.
The only country that could possibly do without access to the SoH is the US, but it will take time to set up distribution.
Once countries start securing their own oil (piracy), other trade routes fall apart unless some country with a big-ass navy ensures piracy doesn’t occur. The US is the only country with a big enough navy to do so.
The world depends on oil for everything. A lot is transportation (40% I believe) but the rest is petrochemicals.
Nearly all of that flows through SoH. There are pockets elsewhere but it’s not really significant in the grand scheme of things.
Ironically, oil-producing countries don’t really refine their own oil.
Oil transportation instability leads to countries “securing” their own oil. By any means necessary.
The only country that could possibly do without access to the SoH is the US, but it will take time to set up distribution.
Once countries start securing their own oil (piracy), other trade routes fall apart unless some country with a big-ass navy ensures piracy doesn’t occur. The US is the only country with a big enough navy to do so.