NO, because the largest energy producer in the world is now the USA, so if Iran closes the Strait of Hormuz, Europe can buy more American oil. If the price of oil spikes, it hurts China and we profit!
THE STRAIT OF HORMUZ
IS 21 MILES WIDE AND
IRAN CONTROLS IT. In 1988, we accidentally shot down an Iranian passenger plane, killing all 290 aboard.
You may have forgotten. Iran hasn't. 1/5 of the world's crude passes through here and if Iran seizes tankers; YOU'LL PAY A LOT MORE AT THE GAS PUMP.