Iran War & Strait of Hormuz Energy Crisis Reveal Decline of U.S. Empire: Historian Alfred McCoy

The U.S.-Israeli war on Iran has now entered its fourth week. The de facto closure of the Strait of Hormuz by Iranian forces is being felt worldwide, as shipments of oil, natural gas and fertilizer have been drastically curtailed. A fifth of the world’s oil supply transits through the strait, and the price of oil is up by about 50% since the war began in…