tl;dr https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headline...

Many other things pass through the straight besides oil

*Can the world have an American President that for once doesn't start pointless wars to distract from internal scandals?

Tautologically yes. Whatever the world gets is its supply. Depending on how much can be done to bypass the Strait, that supply may diminish substantially. Already has, I suppose.

It would be nice if this was the thing that finally kicked governments into gear to get off our reliance on oil. But I don’t think 20% is quite big enough to make that happen.

For a less simplistic look at a similar question I'd recommend this article.

https://hyperfocusinhalifax.substack.com/p/why-arent-oil-pri...

Eventually, yes. But 1) it's not a magic tap on/off, 2) refineries are specialized for specific types of oil, 3) a lot of ships are stuck there, 4) wells and refineries usually take a long time to restart.

Serious oil traders are saying it will take months or even more than a year to get back to normal.

The only thing containing prices at the moment is many exporters sold futures to lock-in prices for the rest of the year (it wasn't market manipulation as many suspected). But once they are sold out we'll have some interesting price discovery.

https://www.tradingview.com/symbols/ICEEUR-BRN1!/forward-cur...

https://www.tradingview.com/symbols/NYMEX-CL1!/forward-curve...

Is it possible yes, is it feasible absolutely not