Substack.com July 14, 2026 • 10:30

Suddenly, Hormuz is Less Crucial Than It Was - Paul Krugman | Substack

By Paul Krugman

Why? Because the real energy crunch is coming from the Russia/Ukraine war

Is Russia burning?
Are we back at war with Iran? Did the war ever stop? The US is, once again, bombing Iran while Iranian drones strike shipping. Iran, giddy with its success in defying America, is … [+5813 chars]

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Suddenly, Hormuz is Less Crucial Than It Was - Paul Krugman | Substack

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