Iran War and the Energy Crisis

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Dr. Ileana Johnson Paugh ——Bio and Archives--May 16, 2026

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I pumped gas today for $4.49 a gallon at my local gas station. Before the war with Iran and the subsequent closing of the Strait of Hormuz, I bought gas for $2.67 per gallon, a dramatic difference in two months’ time. It is hard to imagine that nobody thought of the global energy crisis and the price escalation of everything that would ensue shortly after the attack on Iran on February 28, 2026.

The Strait of Hormuz is bordered by Iran and Oman who have international control over their territorial waters. Approximately 20 percent of the world’s oil and LNG passes through Hormuz.

The Strait of Hormuz is legally an international waterway, but Iran has taken control of it, regulating access, directing shipping routes, and imposing tolls to friendly nations who are allowed passage.

The rest of the ships experience shipping delays, the threat of explosions from anti-ship mines, missiles, and drones, and increased insurance, resulting in soaring global energy prices.

Iran restricted access in the international waters of the Strait of Hormuz for U.S., Israeli, and their allied ships. China, India, Malaysia, Pakistan, Russia, and Iraq........

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