US Treasury Secretary Scott Bessent says the Strait of Hormuz could become “worthless” to the oil industry within two years. His remarks come as tensions between the United States and Iran remain elevated, following exchanges of strikes reported by outlets.
Bessent makes the case that the waterway is no longer a critical “choke point” for U.S. interests. According to one report, he discusses this view while speaking to Fox Business host Larry Kudlow on the sidelines of a Group of 20 finance ministers’ summit in North Carolina.
Other coverage focuses on the timing of his comments, linking them to renewed U.S.-Iran tensions and the broader impact such disputes could have on regional shipping and energy markets. While outlets agree on what Bessent says and the current context, they differ slightly in emphasis, with one highlighting the specific claim about U.S. strategic dependence and another underscoring the contemporaneous security developments between Washington and Tehran.
