The Energy Crisis: Downstream Impacts || Peter Zeihan

“The global energy crisis is worsening due to disruptions from Russia and Iran, with half a billion barrels of crude oil failing to reach the market over five weeks. Asia is already experiencing widespread rationing and black markets, while Europe faces an imminent crunch as pre-war Persian Gulf shipments conclude this week. India has avoided an oil crisis by importing Russian crude but faces a severe propane shortage, and China has stopped fuel exports to manage its internal supply, impacting countries like Australia and New Zealand. The Trump administration's actions have lifted sanctions on Russian and Iranian oil, making it legal again, even as physical damage continues to affect these markets and new 'toll booth' systems emerge in the Strait of Hormuz.”