Source: Geopolitical Economy Report youtube
Description:
Gasoline prices are skyrocketing, breaking records, after the US war against Iran caused the biggest oil supply disruption in history. Ben Norton explains the geopolitical and economic reasons for the energy crisis, including the closure of the Strait of Hormuz and disruption of the Bab al-Mandab Strait, sabotage of the Saudi East-West Pipeline, Ukraine's attacks on Russian refineries and diesel storage depots, China's reduction of crude imports and renewable energy policies, and falling global oil reserves.
Topics
0:00 Largest oil crisis in history
1:30 Price of gasoline skyrockets
2:03 Diesel prices break records
3:07 US midterm election approaches
3:59 Inflation and Donald Trump
5:09 Fed raises interest rates
5:49 US bond market problems
7:13 Trump is unpopular, and desperate
8:19 Saudi oil pipeline attacked
10:59 Bab al-Mandab Strait
11:34 US-Saudi war on Yemen backfires
13:59 US deal with Houthis (Ansarallah)
14:45 Crisis in Saudi Arabia
16:11 Ukraine hits Russian oil facilities
17:37 China reduces crude oil imports
18:56 Chinese electric vehicles (EVs)
19:41 China's solar and wind power
20:33 China increases oil imports
21:39 Global oil reserves running low
22:27 US Strategic Petroleum Reserve (SPR)
23:23 Energy crisis will get worse
25:09 Outro