Prior to the war with Iran, the world had more than enough oil and gas, and as a result it was very inexpensive. Now we have transitioned into a time when that is no longer true at all. Both sides in this war are now specifically targeting oil and gas infrastructure, and that is going to have devastating consequences. Even if the war ended tomorrow and the Strait of Hormuz was immediately reopened, there is no way that conditions would return to how they were just before the war any time soon. Oil and gas facilities that have been damaged could take many months to repair. Oil and gas facilities that have been completely destroyed could take years to rebuild. What this means is that oil and gas prices are going to remain at elevated levels for an extended period of time, and that is really bad news because our entire way of life is based on cheap energy.

Read more: It’s An Energy War Now! Oil And Gas Infrastructure All Over The Middle East Is Being Targeted And This Will Have Devastating Consequences