Krugman Exposes Hidden Economic Toll of Hormuz Crisis Beyond $4 Gas

President Trump’s primetime address Wednesday night attempted to project U.S. strength in the Iran conflict while dismissing concerns about the Strait of Hormuz, claiming America “imports almost no oil through the Hormuz Strait and won’t be taking any in the future.” But Nobel laureate Paul Krugman’s recent Substack analysis titled “$4 Gasoline Is Less Than Half the Story” reveals a far more complex economic threat lurking beneath the surface.↑