Economy

Middle East Crisis  Economic Impact
Energy Infrastructure Damaged by War at $530 Billion


The Iran war has caused damage to energy infrastructure in the region worth $58 billion, equivalent to approximately SEK 530 billion, writes CNBC.

Iran has attacked and damaged production facilities, refineries and pipelines in its neighboring countries. Israel has bombed natural gas and petrochemical plants in Iran, writes CNBC.

– It could take as long as two years to repair facilities and restore oil and gas production to pre-war levels, says Fatih Birol, executive director of the IEA.

Trump's USA  American Defense
Sources: Trump wants car giants to manufacture weapons

The Trump administration wants vehicle manufacturers and other industrial companies to take a greater role in weapons manufacturing, as in World War II. The WSJ writes.

According to sources, senior officials in the Department of Defense have held meetings with top executives from companies including General Motors and Ford about producing weapons and other military equipment.

The talks are said to be at an early stage and of a broad nature, with officials pointing out that American industrial companies may be needed to support traditional defense companies and examining whether the companies can quickly adjust their production.

The Pentagon is “determined to rapidly expand the defense industrial base by utilizing all available commercial solutions and technologies,” a senior official told the newspaper.