Trump’s Iran War Strategy Has Failed

The Economist: “The truth is that Mr. Trump’s strategy has failed. He thought that his blockade of Iran would cripple the country, forcing it to accede to American terms.”

“Instead Iran has used offshore ballast tankers to store its oil, allowing it to defer the day when it has to shut off production, a step that would have resulted in permanently lost output and possibly damage to reservoirs. As late as May 14th Iran was still loading crude oil onto a tanker at Kharg island. By one estimate around 20 empty tankers are thought to be nearby.”

“Meanwhile, in America Mr Trump has been forced to consider suspending the federal gas tax to keep a lid on fuel prices.”