Unfortunately, yes, seriously. Send your thank-you cards to Trump. He gives us such interesting things, doesn’t he? Too bad for us if we don’t want them. Tariffs and a war come to mind. A war that is dragging us down a road to a place we don’t want to be. It’s all for Trump’s vanity. My gratitude to Raw Story:
Energy expert and investor Eric Nuttall predicted in early May that the world was heading toward what may be the “largest energy crisis in modern history,” one that could spark oil rationing “within weeks” – and with the two-week mark now fast approaching, observers across the political spectrum began expressing alarm on Monday.
“We’re not talking months or quarters. In the next couple of weeks, you will have to rationalize demand by more than during COVID,” Nuttall told Bloomberg on May 1.
“This is by far the biggest energy crisis that anybody alive is experiencing.
There remains a lot of apathy in the market, because I just don’t think people can wrap their heads around it.”
We remember the first one, oh, yes, we do. Does the number or letter on your vehicle tag ring a bell? It should, even if I’m not remembering it correctly. But I was young then. Now? I’m not. But I still remember. That’s just a start. It could very well move into gas and electricity for our homes. That’s frightening and difficult to comprehend. Gasoline is easy. You can plan trips. You can’t exactly plan for the costs of how it will affect you at home. Sure, Mr. Nuttall may be crying wolf, but I don’t think so.
Nuttall’s prediction came amid the ongoing U.S.-Israeli war against Iran, a conflict that immediately saw the partial closure of the Strait of Hormuz, a critical shipping waterway through which a fifth of the world’s oil trade flows. Iran’s retaliatory strikes against Gulf States’ energy infrastructure have only further exacerbated fears of a looming energy crisis of historic proportions.
And, with the two-week mark since Nuttall first issued his warning approaching on Friday, onlookers expressed fears that energy rationing could be imminent.
This will not give us warm, fuzzy feelings of confidence. With the Strait closed and Gulf countries having to repair damage from Iranian attacks, this truly is a concern. And also, remember how many things are made with oil. Iran is happily sitting next to the Strait, closing it off, and holding the world hostage.
“Love how the stable genius ended [electric vehicle] tax credits and rolled back fuel mileage standards just in time to trigger the biggest global oil crisis since the 1970s,” wrote author and political commentator Patrick Tomlinson in a social media post Monday to his more than 61,000 followers on X.
Economist Philip Pilkington flagged Nuttall’s projected timeline for when the potential energy crisis – and subsequent energy rationing – may kick off. “Two weeks from energy rationing. Two weeks. Not months. Weeks,” Pilkington wrote on X.
And Rod Dreher, a conservative journalist and author, issued a blistering – and sarcastic – rebuke of the potential looming crisis and its likely impact on the midterm elections for Republicans. “I’m sure it will all be fine and won’t affect the fall election in any way,” Dreher wrote in a social media post on X Monday.
Harsh! And funny, some of them. But nevertheless, we could very well be heading towards a crisis. If it doesn’t happen, great. I will be happy to be proved wrong. But if it does, well, now we know. And if anyone has a rebuttal, please share. Please. We need something positive these days, especially with how much else is going wrong. It would be appreciated.
[Edit: When looking for the picture for this column, I ran across one that said India is preparing for an energy crisis. Makes you think, doesn’t it?]
See you soon!
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Most other countries are preparing for a fuel crisis.
Key Measures Countries Are Taking:
Fuel Subsidies and Tax Cuts:
Several countries have announced fuel duty freezes or tax cuts. Greece is offering subsidies for fuel and fertilizer, while the Philippines has provided subsidies to the transport sector.
Public Transport Subsidies:
To reduce fuel consumption, some regions are offering free public transport. Australia’s Victoria offered free transport for one month, and Tasmania provided free buses and ferries for three months.Demand Reduction and Conservation: The International Energy Agency (IEA) recommends actions similar to those being adopted:
Remote Work:
Promoting working from home to cut down on commuting.
Reduced Speed Limits:
Lowering speed limits on highways to reduce consumption.
Alternative Transport:
Encouraging the use of public transport over private cars.
Rationing and Priority Access:
Governments are establishing, or considering, fuel prioritization lists for critical services like emergency, health, and food supply chains. The Philippines has declared a national energy emergency.
Alternative Energy Sources:
European countries are focusing on increasing Liquefied Natural Gas (LNG) imports, including increasing dependency on Qatar.
Regional Specifics:
Asia/Asia-Pacific:
The Philippines and Pakistan have implemented four-day work weeks, while Sri Lanka made Wednesdays a public holiday for government employees to save fuel.
New Zealand: The government is focusing on a 4-phase plan, preparing to restrict fuel use if shortages become critical.
Europe: EU nations are utilizing a “catalogue of national practices” to cut gas and oil demand through energy conservation.
The most severe responses involve direct intervention in fuel distribution. India and Bangladesh, for example, have introduced export restrictions and prioritized fuel allocation to essential sectors (domestic LPG supply for households in India, fuel for agriculture in Bangladesh), ensuring domestic availability amid supply disruptions. These measures signal a shift from price management to active crisis control, typically associated with more acute supply shortages.
And we’re only a few weeks in, 120 ships a day used to pass through The Strait Of Hormuz.
Since the ‘Not a war’ started, less than 20 have got through. Until about nowish, the world has been using up reserves. Those reserves are running out. The real shortage is just beginning.
$10 plus per gallon of gas? Don’t be surprised.
The blockade at the Strait needs to go. Refineries are being hit. By June….it’s going to get bad by September it’s going to get horrific. Investment companies are ringing the bell. As 47 said yesterday – HE DOESN’T CARE. His dementia has him fixated on Iran not having nuclear capability. His dementia is going to cause WWIII and that being an oil war.
Screenshot