Secretary of State Marco Rubio thinks we're all idiots. Lil' Marco made an appearance on Sean Hannity's show on Fox this Tuesday, and the two of them did their best to downplay the economic damage that Trump and Bibi's attack on Iran is causing for the United States.
HANNITY: Let's talk about the Strait of Hormuz. 20 percent of the world's oil supply passes through there on a daily basis. You have steadfastly said they will not be allowed to have a tolling system where they get to charge countries to pass through. Millions of dollars, number one. And number two, this is about the free flow of oil at market prices.
This is critical to the world's economy, obviously. Not so much the American economy. And that brings up the issue of NATO, which I'll get to in a second.
How important and how do you determine whether or not that it will be okay for US forces to withdraw, knowing and having confidence that the strait will be open for the free flow of oil?
RUBIO: Well, the Strait of Hormuz, those are international waters, right? So anything Iran does to impede commercial traffic is illegal.
For all these countries that love to talk about international law, it is a violation of international maritime law to impede the free flow of travel in international waters.
So that's number one. Number two, it's illegal to bomb and hit and attack commercial shipping and sink them. And that's what the Nazis did during World War II in the Atlantic. And that's what they're doing now to ships that they, from countries they don't like that are flagged by countries they don't like. These are terroristic acts that they're undertaking.
And so the United States gets very little energy through the Strait of Hormuz. Our allies ship out a lot of oil through there, meaning our Gulf allies, and certainly countries in Asia and Europe depend on it. We depend very little on the strait.
So this, if in fact Iran decides to set up a toll, if in fact Iran decides that they are going to illegally control the Strait of Hormuz or decide they're going to try to do that, look, I imagine that'll be the president's call, whether he wants to help.
But this is a problem for the world. It's countries around the world should be stepping up and dealing with that and saying that's intolerable. And that's what we've encouraged them to do.
This is a problem we caused for the rest of the world that Trump now wants them to clean up for him.
Hannity and Rubio both ignored the fact that about 20% of global LNG trade passes through the Strait, along with roughly one-third of global seaborne trade in fertilizer, that about 30% of the world's helium supply originates from Qatar, and other commodities such as aluminum, LPG and petrochemical feedstocks pass through there as well.
They also ignored that oil and LNG are globally priced commodities. Even if the United States imports almost none of its oil or gas directly through the Strait, a supply shock there raises prices everywhere — including at American gas stations and utility bills. There's effectively one global oil price and increasingly one global LNG market. When 20% of world oil supply gets disrupted, the price Americans pay goes up regardless of where their barrels physically came from.
But Rubio is going to smugly sit there and just straight up lie to the Fox audience that we're not going to be affected by this.
I keep wondering how much longer they think they can keep this up as reality continues to smack everyone in the face.


