LOS ANGELES/LONDON –
The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: A similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen’s Houthis.
The costly Red Sea experience — four ships sunk, more than $1 billion in weapons expended, and a route the shipping industry still largely avoids — looms over the more complex Strait of Hormuz, the shipping artery used by roughly a fifth of global oil and liquefied natural gas supply and now blocked by Iran, a more formidable adversary than the Houthis.
Iran’s threats to the strait and its attacks on energy infrastructure in nearby Gulf nations have sent oil prices soaring in the worst disruption to oil and gas supplies in history. Absent the strait’s reopening, shortages will become more acute, threatening higher costs for energy, food and numerous other products worldwide.
