Do We Still Need The Strait of Hormuz? A Top Trump Official Says No
The Strait of Hormuz may not stay a vital oil chokepoint much longer. Treasury Secretary Scott Bessent predicts new pipelines will make the waterway 'irrelevant' within two years.
TL;DR
- The Strait of Hormuz may soon lose its status as a vital oil chokepoint.
- Treasury Secretary Scott Bessent predicts new pipelines will make it irrelevant.
- This change is expected to occur within the next two years.