Iran’s $30,000 drones are deterring our $2.7 billion warships

And most importantly to the world economy, Iran’s grip over the narrow Strait of Hormuz remains steadfast, seemingly impervious to US and Israeli bombardment. Oil from the Persian Gulf must pass through the 30-mile-wide strait to a petroleum-thirsty world, and Iran’s ability to shut down tanker traffic means that as much as 20 percent of the global supply is bottled up. And that has caused gasoline prices to soar, even in parts of the world like the United States that import little oil from the Middle East. Trump has attempted to cajole, bully, and shame US allies into deploying warships…