Red Sea chokepoints are critical for international oil and natural gas flows

The world has been globalizing relying on shipping through some of the potentially most unsavory waters on the planet. If that was not rolling the dice, what is? Optimizing global supply chains is a nice thing but it’s also a play with the devil. The more one relies on one region of the world to do all the production of goods because wages are lower and/or regulation is less burdensome, the more one exposes vital functions to this region and everything in between. COVID showed us the flaws of that. Now there is more. We will have to re-industrialize or find out what true misery is like.

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