Hormuz Crisis Series: European Jets Jets Jets
By Paul Sankey
Published on April 18, 2026 at 4:37 PM
Last week, having satisfied my curiosity on Taiwan and Taiwan Semiconductor (TSMC) — which basically concluded that TSMC will keep getting cheap reliable subsidized government electricity even if it means Mrs Cheng has no aircon. That is globally important; AI is the counter theme to Hormuz and after TSMC’s earnings call, we concluded they are good to go for another quarter of crisis, so relatively very comfortable. Nothing it at all comfortable right now in …