Strait of Hormuz Energy Share Drops 50-70% in Two Years

US Treasury Secretary Bessent predicts the Strait of Hormuz will lose key energy route status, with 50-70% of flow shifting to pipelines within two years.

Woofun AI reports that US Treasury Secretary Bessent stated the Strait of Hormuz will 'become unimportant' within the next two years. He clarified that this shift does not benefit Iran but signifies the loss of the Strait's status as a primary energy corridor. Bessent projected that over 50%, potentially up to 70%, of current energy flows will transition to underground pipelines.