{"id":561043,"date":"2026-04-02T23:10:12","date_gmt":"2026-04-02T23:10:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/561043\/"},"modified":"2026-04-02T23:10:12","modified_gmt":"2026-04-02T23:10:12","slug":"these-4-charts-show-why-reopening-the-strait-of-hormuz-is-vital-for-the-u-s-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/561043\/","title":{"rendered":"These 4 charts show why reopening the Strait of Hormuz is vital for the U.S. economy"},"content":{"rendered":"

Economic analyst Steve Rattner blasted President Donald Trump<\/a> on Thursday\u2019s \u201cMorning Joe,\u201d<\/a> after the president admitted he has no plan to reopen the Strait of Hormuz<\/a>, as his war with Iran drags on.\u00a0<\/p>\n

During a prime-time address<\/a> to the nation on Wednesday, Trump encouraged other countries to \u201ctake the lead\u201d in reopening the waterway, insisting it would \u201copen up naturally\u201d when the conflict ceases. He also touted the United States\u2019 own oil supply, arguing it did not \u201cneed\u201d energy from the Middle East.<\/p>\n

\u201cI think of all the things the president said last night, that was one of the most incredible,\u201d Rattner said. \u201cThe idea that we\u2019re just going to go leave and let the Europeans somehow figure out the Strait of Hormuz is really ridiculous.\u201d<\/p>\n

\u201cYes, the Iranians may want the strait open for their oil, but it doesn\u2019t mean they have to open it for everybody else\u2019s oil,\u201d he explained. \u201cSo the idea that because they want to get their oil out, they\u2019re going to let everybody else\u2019s oil out, doesn\u2019t make any sense in the world to me.\u201d<\/p>\n

The former Treasury official used several charts to show just how vital the passageway is to the global economy. As he noted, 20% of the world\u2019s oil passes through the strait, from countries like Saudi Arabia, Iraq, the United Arab Emirates, Iran, Kuwait and Qatar.\u00a0<\/p>\n

\u201cVirtually all of it has to pass through the strait,\u201d he said. \u201cWe have no alternative.\u201d<\/p>\n

\"OilOil Exports Through the Strait of Hormuz. MS NOW<\/p>\n

Rattner\u2019s next chart showed how Trump\u2019s war has already caused the largest oil disruption in history.<\/p>\n

\u201cMany of us remember the 1970s,\u201d he said. \u201cThe 1970s embargoes cost us less than 10% of the world\u2019s oil. This is 20% of the world\u2019s oil.\u201d<\/p>\n

\tRecommended<\/p>\n

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\n\t\t\t\t\"\"\t\t\t\t<\/a><\/p>\n

\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\tAllison Detzel<\/a>\t\t<\/p>\n

\n\t\t\t\t\t\tAllison Detzel is an editor\/producer for MS NOW. She was previously a segment producer for \u201cAYMAN\u201d and \u201cThe Mehdi Hasan Show.\u201d\n\t\t<\/p>\n

\"MS<\/p>\n

\u00a9\u00a02026 Versant Media, LLC<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"Economic analyst Steve Rattner blasted President Donald Trump on Thursday\u2019s \u201cMorning Joe,\u201d after the president admitted he has…\n","protected":false},"author":2,"featured_media":561044,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-561043","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/561043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=561043"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/561043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/561044"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=561043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=561043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=561043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}