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Fox & Friends co-host Brian Kilmeade tells oil tankers to go through the Strait of Hormuz: "Show some guts and go through that strait and do it" (www.mediamatters.org)

submitted 7 hours ago by dantheclamman@lemmy.world to c/nottheonion@lemmy.world

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[–] CompactFlax@discuss.tchncs.de 109 points 7 hours ago (3 children)

Trump is about to find out that ship owners won’t risk hundreds of millions per ship on an uninsurable voyage just to stroke his ego.

[–] Fermion@mander.xyz 63 points 7 hours ago* (last edited 7 hours ago) (2 children)

It's not even just the price of a ship and cargo at risk. Lead times are around 2.8 to 3 yrs for crude tankers and around 3.5 yrs for LNG carriers. That's a long time to not be able to conduct business even if insurance did pay out. It is 100% rational to sit out a few weeks to figure out how to resume operations safely rather than trying to sneak through and hope for the best.

[–] Serinus@lemmy.world 2 points 2 hours ago

Well, at least Trump is well known for paying his debts.

[–] HeyJoe@lemmy.world 36 points 6 hours ago

Yeah, especially since they have promised its only going to be 3 weeks. It's almost as if that was a lie.

[–] CheeseNoodle@lemmy.world 6 points 5 hours ago (1 children)

Alternatively wasn't he floating some kind of mandatory insurance scheme? mandatory in the sense that the insurer can't refuse. Sounds like a great time to liquidate some ageing stock for yhuge profits.

[–] humanspiral@lemmy.ca 2 points 5 hours ago* (last edited 2 hours ago) (1 children)

No. Reinsurance "scheme" lets an insurer transfer all risk. If US government is willing to pay the insurer $100M, then they will charge the ship $1M or $99M for the voyage, but keep $100M total. Brian Kilmede will not volunteer to be crew on the ships no matter the pay, either.

[–] otter@lemmy.dbzer0.com 2 points 3 hours ago

Should've involuntarily added him to the crew of that genius "submarine". Missed our chance.

[–] RobotToaster@mander.xyz 6 points 6 hours ago

Oddly, due to maritime law, it's the cargo owners who would have to pay if the ship was only damaged but not sunk.