IEA declares Hormuz no longer a reliable energy route — era is over

IEA executive director Fatih Birol says it plainly: the Strait of Hormuz “has lost its status as a reliable energy export route.” Global oil supply plunged 10.1 million barrels per day in March — the largest disruption in history. Recovery to pre-war output could take two years. “The era when the global economy was critically dependent on a single strait is becoming history,” Birol said. He’s right. But the question isn’t just what replaces Hormuz — it’s what replaces the dollar-denominated oil market that Hormuz underwrote for fifty years. That redesign is already underway, and Bitcoin is part of the blueprint.