War is costly. The ongoing American-Israeli war on Iran is already reverberating through the global economy. For most people, including American citizens, it means higher fuel prices and greater economic uncertainty.
But for a narrower group of entities, war can also be extraordinarily profitable. Chief among them are segments of the United States oil and gas industry, which have already profited from Russian President Vladimir Putin’s decision to invade Ukraine and the ensuing sanctions on Russian oil and gas exports.
Now, the escalation of hostilities between the U.S., Israel and Iran has once again rattled global energy markets. Fighting and the closure of the Strait of Hormuz — one of the world’s most important oil shipping routes — have triggered what some have described as “the biggest oil disruption in history.”
