Piracy takes greater toll on small Persian gulf energy exporters
Tanker traffic through the Strait of Hormuz can decline for up to two years after a piracy attack, a new Duke University study finds, but the adverse effects of the slowdown are far greater on some Persian Gulf countries than others.
“Large exporters of crude oil, such as Saudi Arabia, see little significant long-term impact. But for smaller countries such as Bahrain or Kuwait that rely on exports of refined petroleum products in addition to crude oil, it’s a different story,” said Lincoln F. Pratson, Gendell Family Professor of Energy and Environment at Duke’s Nicholas School of the Environment.
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