Average gas prices in the United States have gone up by almost 40 percent since March 1. The reason appears straightforward: Iran has blocked the Strait of Hormuz in response to the U.S. military operation that decapitated its regime and degraded its military. Hundreds of tankers trapped behind the strait cannot deliver their oil, depriving the world of 7 percent to 10 percent of its supply.

Although that explains drastic price increases and even shortages in Europe and Asia, the United States gets almost no oil through the strait. In theory, the country should be energy-independent, as it is a net petroleum exporter.