Adam Smith
1723–1790, Scotland (the Scottish Enlightenment: Kirkcaldy, Glasgow, Edinburgh)
The Strait of Hormuz Is Not a Private Turnpike
When a narrow waterway that carries much of the world’s oil is opened only on conditions, we are watching the price of political power being written into every poor man’s fuel bill.
We are told that the Strait of Hormuz, a channel through which a great portion of the world’s oil must pass, has been effectively shut and is now the subject of anxious negotiation. Iran and Oman, it seems, are working toward a temporary arrangement by which ships would enter on a route close to Iran and exit on a route close to Oman, while other states and international bodies look on and append their approbation. Yet even this modest reopening is said to be “subject to other conditions,” conveyed through intermediaries, while Iran’s own security council has declared the strait will not open until the United States “corrects its behavior.” The world’s commerce thus waits upon a moral lecture.
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