I have to disagree on who's holding the cards. Using the Gulf of Mexico in comparison is a very weak argument because Mexico has no way to close access off from it.
Think about your argument of what would happen if the US ordered US oil companies not to export oil to other countries and demanded they obey us. First of all you have the US oil companies raising a ruckus about it. Then the American citizens because that would drive gas prices to where most wouldn't be able to afford to travel or get back and forth to work. Higher gas prices also result in the cost of transporting goods and services would increase, driving retail prices higher. Then there is Congress. I seriously doubt Congress would approve such legislation. Trump issuing an executive order for such a ridiculous move would not only be unconstitutional but blow up in his face as it would create the greatest alliance of nations against the US.
I agree, but it was just an illustration. Iran doesn't own the Strait. But it knows it can benefit from seizing it.
What I mean by the US holding the cards is the US holds them (not that the US will use thfm). Iran is being weakened (not only by Trumps economic and military measures but also by other nations seeking alternative alternatives).
The US would not stop exporting oil because oil is traded on a global market. This is why we could not be oil independent (exports affect our prices as well).
I was just using that as an example of how the US could apply global pressure if utilized to a lesser extent (not that we would, if we did we would be very much like Iran).
On the ground prices have not gone up too much. We complain here that gas has increased to $3.59/gal. But if Trump continued rather than waffling the price increase would be palatable (yes, I know this inflated other goods).
Stopping Iran's nuclear program was necessary, and the inflated prices are something I am willing to pay.
What I disagree with is progress has stopped. Trump talks loudly, but Iran has called his bluff.