Generative AI Is Playing a Surprising Role in Israel-Hamas Disinformation
WiredAUG 2023
President Biden had vowed to keep oil prices down. The administration is prepared to go to whatever lengths necessary to preserve market stability and low oil prices. Washington is dedicated to stabilizing freight transit in the Red Sea corridor, as evidenced by the formation of a task force last week to protect trade in the region. The Red Sea and Suez Canal handle about 12% of all marine traffic worldwide. Oil tankers were temporarily diverted, but the main shipping lines are again returning to the Red Sea route, which is encouraging news for the market.
The Israel-Palestinian conflict could have far-reaching economic consequences. A protracted conflict between the two sides not only has a substantial humanitarian toll but also threatens to bring about a new global economic shock. Important energy infrastructure, pipelines, refineries, and export terminals could be destroyed in the event of a full-scale conflict in the Middle East. This would send prices worldwide through the roof, which would only exasperate already existing issues with inflation. The world needs an immediate, lasting solution in Gaza to ensure maritime and energy security in the Red Sea and beyond.