Ever since the US and Israel began bombing Iran, the Strait Of Hormuz has become the most watched shipping lane in the world economy. The strait itself is just a narrow waterway between the Persian Gulf and the Gulf Of Oman, but much of the world's oil and other crucial material, such as industrial helium, flow through it. Now, after weeks of bombing and retaliation, the strait is gummed up, with hundreds of ships stranded, little traffic, and no end in sight. We're already seeing prices at the pump begin to spike, and the stock market has cooled, but according to our guest, we haven't actually felt any true material shocks, yet.
Today on the show Matt and David talk with Salvatore Mercogliano, former merchant marine, maritime history professor at Campbell University, and host of the popular What's Going on With Shipping? on Youtube. Together they break down what's happening, why the high prices we're seeing at the gas pump are only a precursor to actual shortages, and what to look for as we begin to feel the supply chain pinch.
