Energy Engineering Seminar: Michael Weill '79 (BHP)
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Strait of Hormuz Closure: Largest Oil Supply Shock Ever or Ho Hum The closure of the Strait of Hormuz due to the Iran War represents the largest supply shock to the world's oil trade with 20% of world supply disappearing overnight. Yet oil prices only managed to get into triple digits for short periods of time. The doomsayers predicted severe economic consequences by June. What happened and are we out of the woods? Closure also had significant impacts on LNG, Nitrogen, Sulphur, and Helium. What happened to those key foundational elements of modern society? Bio: Mike Weill holds a Bachelor of S
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