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An Oil Strategy in Case Iran Closes Strait of Hormuz: View
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Let’s just say Iran makes good on its recent threats to shut down the Strait of Hormuz. And let’s say that with one-fifth of the world’s oil supply bottled up, the price of a barrel of oil then almost doubles, as some analysts predict, to more than $200.
What can the world do to bring prices down before a still-woozy global economy gets pushed back into recession?