Strait of Hormuz
Energy is what makes the world run today. Without energy all the machines that allow us to live the luxurious life that we live will stop working. Many of us would not mind going in our car to the grocery store that is 5 minutes away by walk. Most of the cars we use today run on fossil fuel. I know there are a few on the road that run on electricity, but guess what: the electricity that you use to charge the battery was produced by burning coal.
Coming back to oil, the possibility of the price of Oil going so high that more than 50% of the world would not be able to purchase it, is really high. This is because the president of Iran has been threatening to close the Strait of Hormuz. 20% percent of oil traded in the world passes through this strait and closing this strait would severely affect the world economy. The threat could become real as early as in 5 months time, as both Europe and U.S have agreed on sanctions that would make it impossible for any country to buy oil from Iran. We know these sanctions were imposed to stop the Iranian regime from getting hold of nuclear bombs. The sanctions are not yet made effective as 6 months time has been given for all the countries to find alternate ways to get oil.
In six months time instead of time management software you will need fuel management software, as the price of oil will surely shoot up. Wastage of oil will be a crime and economies around the world will start failing. One good thing that could come out of this problem would be the attention of world governments turning to alternative energy. Well, I am sure this is wishful thinking, because if Iran closes the Strait, we will immediately have another war for oil underway.
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