closing the Strait of Hormuz; Why could it hurt the American economy? You may have heard that closing the Strait of Hormuz will ultimately benefit American oil companies by raising the price of oil; But the story is not so simple! On the one hand, the high oil price increases the income of some American producers; But on the other hand, it increases the cost of gasoline, transportation and the production of goods and puts pressure on American people and industries. This situation can reduce people's purchasing power and worsen inflation. Also, the United States cannot immediately compensate for the shortage of oil caused by the closure of the strait, and some of its refineries need heavier oil, which is not easy to replace. Conclusion: the profit of some oil companies does not necessarily mean the profit of the entire American economy; Because the high cost of energy, rising inflation and disruptions in world trade could impose heavy costs on this country. A. A.

closing the Strait of Hormuz; Why could it hurt the American economy? You may have heard that closing the Strait of Hormuz will ultimately benefit American oil companies by raising the price of oil; But the story is not so simple! On the one hand, the high oil price increases the income of some American producers; But on the other hand, it increases the cost of gasoline, transportation and the production of goods and puts pressure on American people and industries. This situation can reduce people's purchasing power and worsen inflation. Also, the United States cannot immediately compensate for the shortage of oil caused by the closure of the strait, and some of its refineries need heavier oil, which is not easy to replace. Conclusion: the profit of some oil companies does not necessarily mean the profit of the entire American economy; Because the high cost of energy, rising inflation and disruptions in world trade could impose heavy costs on this country. A. A.