Executive Summary The strategic imperative to bypass the Strait of Hormuz following its hypothetical closure in February 2026 is fundamentally undermined by geographic, economic, and security realities that render alternative infrastructure obsolete, necessitating an immediate recalibration of global energy transit risk models and macroeconomic forecasting frameworks. Alternative pipeline networks, including the Kirkuk–Baniyas route and the … Leggi tutto Hormuz Bypass Fallacy: Pipeline Alternatives Lack Capacity