Notebook
Essays and notes on political economy, books, history, and the forces that shape how people live.
A Quota Cannot Open a Strait
OPEC+ can raise oil quotas, but it cannot reopen the Strait of Hormuz. Trump, Iran, war and shipping routes determine whether oil reaches households—and at what price across the world.
The Fingerprints of Shortage
The reopening of the Strait of Hormuz does not mean the oil crisis simply disappears. It means the crisis changes shape.