a ; (85%) (9.8) Others 15%) = A third of world’s LNG and a fifth of global oil production goes through the Strait of Hormuz. = “Tran relies on the Strait not only for its oil exports, but also for the imports of some needed food and medical products.” ! (1) Michael Ratner, “Iran’s Threats, the Strait

i Arabia, Iraq and the UAE that could divert around 5-6 mm bpd, and strategic petroleum reserves could be released. Even so, a military battle in the Strait could cause oil prices to rise $20-$30, according to EIA and GAO 2007 estimates. To be fair to all the analysts, journalists and think tanks, there i