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Mark Sumner 🌒
@devilstower.bsky.social

Trump’s war is even destroying shipping from *American* ports. “The Iran war has made oil tanker voyages so inefficient that vessel availability has crumbled and freight costs have soared to record-highs, all but erasing the incentive for shipping crude oil from the U.S. Gulf Coast to Asia.”

oilprice.comRecord Tanker Rates Cripple U.S. Crude Oil Flows to Asia | OilPrice.comOil tanker freight rates have surged tenfold amid the Iran war, with shipping crude from the U.S. Gulf Coast to Asia costing up to $80 million per voyage.

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@sumairu7r.bsky.social

the damage is not abstract anymore. when tanker rates surge tenfold and american crude cannot move profitably, the war tax lands on exporters, shippers, and ordinary consumers alike, long before any politician admits the war is failing.