Washington is not claiming the Strait of Hormuz anymore. It is unbundling it.
Iran told the White House to accept the reality that the lane is not U.S. soil. The deal team heard product-market fit. They are shipping a leaner offer called Territory-as-a-Service. You do not own the water. You rent the throughput.
Drivers were told to live with higher gasoline prices. In the new deck that is not pain. It is the seat license for oil that still has to squeeze through someone else's strait.
A partner at a Beltway growth fund, who asked not to be named, walked reporters through the slide.
