The Iran oil crisis is the worst energy shock ever recorded. World leaders aren’t ready, the IEA chief has said
Russia will benefit from higher oil prices and China also seems well prepared with big reserves, Russia on its doorstep and vast amounts of Renewable Energy and nuclear energy.
It is the US, UK and Europe and South Korea and Japan who are unprepared.
China will end up buying up Japan and Asia.
And the energey shock has not really started yet because of the time lag between the cut off of oil and the tanker s journey time to Europe and Asia.
The bottom line is that energy will become much more expensive, inflation will soar.
From media
The Iran oil crisis is the worst energy shock ever recorded. World leaders aren’t ready, says IEA chief
The oil crises of the 1970s prompted a range of policy changes that still exist today. For one, we invented the high occupancy vehicle (HOV) lane to incentivize workers to carpool. A nationwide 55 mph speed limit made sure those carpools weren’t guzzling too much gas. Cars became more fuel efficient; we (temporarily) started driving less. But some experts say those measures, coupled with those taken during the 2022 energy shock in the wake of Russia’s invasion of Ukraine, pale in comparison to what we’re about to see next thanks to the Iran war.
https://www.zerohedge.com/markets/chinese-containership-first-pay-iran-safe-passage-through-strait-hormuz-iraqi-tanker
No comments:
Post a Comment