{
  "id": 4960433,
  "title": "Bessent says Strait of Hormuz would be 'worthless piece of water' as oil pipelines bypass it",
  "url": "https://urgent.news/2026/09/01/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as-4960433",
  "topic": "world",
  "section": "World",
  "published": "2026-09-01T23:17:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/world/20260902/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as-oil-pipelines-bypass-it"
  },
  "original_language": "en",
  "account": "U.S. Treasury Secretary Scott Bessent forecasted that the Strait of Hormuz will become an \"unimportant body of water\" within two years, as oil shipments will transition to land-based pipelines, thereby bypassing the strategic waterway. The Secretary made these comments during a fireside chat with FOX Business Network host Larry Kudlow at the Group of 20 finance ministers meetings in Asheville, North Carolina. The ongoing conflict between Washington and Tehran has escalated tensions in the Strait of Hormuz, which has been a strategic choke point for many countries. Bessent noted that while the United States is not currently affected by the Strait of Hormuz as a choke point, other nations are indeed impacted. The Secretary further elaborated that in two years, the Strait of Hormuz will essentially be \"worthless\" as oil will be transported via pipelines across the land. During the Middle East war, Iran effectively blocked the Strait of Hormuz, a vital shipping route for oil, natural gas, fertilizer, and other commodities, thereby contributing to the high energy prices and putting pressure on the United States.",
  "summary": "WASHINGTON — U.S. Treasury Secretary Scott Bessent said Tuesday that the Strait of Hormuz will be \"like a worthless piece of water\" in two years as oil will be shipped through land-based pipelines, bypassing the crucial waterway. Bessent made the remarks during a fireside chat with FOX Business Network host Larry Kudlow at the Group of 20 finance ministers' meetings in Asheville, North Carolina,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "also_reported_by": [
      {
        "outlet": "Al Jazeera",
        "title": "Qatar says efforts under way to end Iran-US war and reopen Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/qatar-says-efforts-under-way-to-end-iran-us-war-and-reopen-strait-of",
        "published": "2026-09-01T15:29:48.000Z"
      },
      {
        "outlet": "Axios",
        "title": "U.S. military conducting fresh strikes in the Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/u-s-military-conducting-fresh-strikes-in-the-strait-of-hormuz",
        "published": "2026-09-01T16:49:03.000Z"
      },
      {
        "outlet": "Euronews",
        "title": "US military says it struck IRGC targets in Iran after attacks on shipping in Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/us-military-says-it-struck-irgc-targets-in-iran-after-attacks-on",
        "published": "2026-09-01T17:40:23.000Z"
      },
      {
        "outlet": "Business Standard IN",
        "title": "US launches new barrage of strikes on Iran around Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/us-launches-new-barrage-of-strikes-on-iran-around-strait-of-hormuz",
        "published": "2026-09-01T18:37:05.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Oil surges over 5% as US-Iran tensions raise Hormuz Strait risks",
        "url": "https://urgent.news/2026/09/01/oil-surges-over-5-as-us-iran-tensions-raise-hormuz-strait-risks",
        "published": "2026-09-01T19:27:30.000Z"
      },
      {
        "outlet": "Yonhap News",
        "title": "Bessent says Strait of Hormuz would be 'worthless piece of water' as oil pipelines bypass it",
        "url": "https://urgent.news/2026/09/01/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as",
        "published": "2026-09-01T19:58:17.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "US launches new barrage of strikes on Iran around Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/us-launches-new-barrage-of-strikes-on-iran-around-strait-of-hormuz-4932645",
        "published": "2026-09-01T20:01:42.000Z"
      },
      {
        "outlet": "The Hill",
        "title": "Bessent predicts Strait of Hormuz will be 'worthless' in 2 years",
        "url": "https://urgent.news/2026/09/01/bessent-predicts-strait-of-hormuz-will-be-worthless-in-2-years",
        "published": "2026-09-01T20:16:39.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Bessent says Strait of Hormuz would be 'worthless piece of water' as oil pipelines bypass it",
        "url": "https://urgent.news/2026/09/01/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as-4961895",
        "published": "2026-09-01T23:22:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}