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Nick Fountain

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
1658 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
How to get through the Strait of Hormuz

He is very keyed into this stuff.

Planet Money
How to get through the Strait of Hormuz

I asked Ryan, hey, do you know what's happening with the Bright Pink ship, the One Majesty, the ship that might have Christian's books on it?

Planet Money
How to get through the Strait of Hormuz

And he was like, no, we do have some containers stuck in the Gulf, just not on that ship.

Planet Money
How to get through the Strait of Hormuz

But he did have some info for Christian.

Planet Money
How to get through the Strait of Hormuz

And it was not good.

Planet Money
How to get through the Strait of Hormuz

Apparently, when a ship is damaged like the bright pink ship was, the ship owner might use something called the law of general average.

Planet Money
How to get through the Strait of Hormuz

Which means Christian and his comics publisher, their insurance company, could be on the hook for damages sustained to the bright pink ship.

Planet Money
How to get through the Strait of Hormuz

But while we had Ryan on the line, might as well ask him the big question.

Planet Money
How to get through the Strait of Hormuz

what does a potential toll booth in the Strait of Hormuz mean for global shipping and the global economy?

Planet Money
How to get through the Strait of Hormuz

He was like, well, on one level, it might just mean one more fee that makes everything a little more expensive.

Planet Money
How to get through the Strait of Hormuz

But also, it might mean a huge shift.

Planet Money
How to get through the Strait of Hormuz

Because for 70-something years, the U.S.

Planet Money
How to get through the Strait of Hormuz

Navy has been guaranteeing the free flow of goods throughout the world's waterways.

Planet Money
How to get through the Strait of Hormuz

How important is this freedom of navigation, freedom of the seas for global commerce?

Planet Money
How to get through the Strait of Hormuz

Yeah, the modern global economy requires the free flow of goods around the world.

Planet Money
How to get through the Strait of Hormuz

And that is in the balance right now.

Planet Money
How to get through the Strait of Hormuz

Which might explain why the Trump administration has made opening up the Strait a priority in their negotiations with Iran.

Planet Money
How to get through the Strait of Hormuz

And responded with their own blockade to prevent ships from going to and coming from Iran.

Planet Money
How to get through the Strait of Hormuz

Because freedom of the seas is such a big deal.

Planet Money
How to get through the Strait of Hormuz

And that would be an enormous shift.