The Strait of Hormuz is a reminder that energy security is geography
Energy markets like to speak in abstractions: liquidity, flexibility, spare capacity, hedging. Then the Strait of Hormuz appears on the map, and the language becomes[…]
Iran’s Expanding Missile Arsenal and the Unsustainable Cost of Interception
Iran is believed to possess more than 17 types of ballistic missiles, and that variety matters. Not every missile presents the same challenge to defenders:[…]