Derek Thompson (@derekthompson): "Energy experts are freaking out. By April, they say, the Iran War could be a full blown energy crisis. Oil tankers are already stranded outside the Strait of Hormuz. Storage facilities are filling up. Qatar is shutting down natural gas facilities. Kuwait is pulling back oil pro…"

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Energy experts are freaking out. By April, they say, the Iran War could be a full blown energy crisis.

Oil tankers are already stranded outside the Strait of Hormuz. Storage facilities are filling up. Qatar is shutting down natural gas facilities. Kuwait is pulling back oil production. Saudi Arabia and UAE might be 2 weeks for shutdowns. Crude oil has already jumped from $55 a barrel in December to $89 this morning.

A cavalcade of yikes.

“If we’re talking two weeks, I think we’re going to get $100-plus oil. If we go beyond that, then oil prices could start to get into Scary Land.”

Derek Thompson

Mar 6

4:46 PM

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