Australia should be able to help keep oil flowing – but probably can’t
It’s one thing to be hesitant about Australia’s navy joining the US in Iran. It’s another when this middle power lacks the military capabilities to safeguard its global strategic and economic interests.
At the start of the third week of the war in the Middle East, the battered Iranian regime is still landing its most effective counter-punch at America, Israel and the world economy.
Bottling up tanker traffic through the Strait of Hormuz has spiked global energy prices, sent inflation hares running by pushing up fuel and transport costs, and caused havoc on financial markets.
