Bessent Predicts 50-70% Energy Shift From Strait of Hormuz to Pipelines

Treasury Secretary Bessent forecasts the Strait of Hormuz will lose strategic significance within two years, with majority of energy transport shifting to underground pipelines.

Woofun AI reports that U.S. Treasury Secretary Scott Bessent stated the Strait of Hormuz will cease to be a strategic chokepoint, asserting Iran has already attempted to weaponize the waterway. He predicted that over the next two years, the strait will diminish in importance, becoming an ordinary body of water as more than 50%, potentially 70%, of current energy flows are rerouted to underground pipelines.