The continued stalemate will likely continue in my opinion. Continued daily strikes by the US and Iran squeezing the strait. China is severely squeezed by loss of oil. Russia benefits from rising oil prices. Everyone else will get to relive the 1970s. Stagflation here we come.
I don't think Iran can take a sustained air campaign for that long. They talk like they can but they can't. The only thing they have right now is their remaining ballistic missile (and to some extent) drone launch capabilities but that is going to keep getting degraded.
The US being a net exporter of oil should benefit from higher oil prices. Defense contractors will also benefit.
The 1970's were probably better than these days. ;)
> I don't think Iran can take a sustained air campaign for that long
Most probably, but Israel and US are now being more conservative with interceptor targets though so that seems to go both ways.
I hope you are right. My concern is that the Iranian regime is a lot tougher than we may think.
Upside: Maybe helps a tiny bit on climate change.