In the spring of 2026, amid a fragile ceasefire in the Strait of Hormuz, President Donald Trump continues to insist that the United States is untouched by disruptions in the Persian Gulf. “We don’t use it”, he has claimed, echoing years of “energy dominance” rhetoric. The numbers tell a different story. The United States remains a net importer of crude oil. Its refineries are engineered for the medium sour barrels that flow through the Hormuz Strait. And the global price shock triggered by the...