#oil-crisis

#oil-crisis

Iraq is under attack from all sides as militias and foreign powers clash, leading to a significant escalation in violence and instability within the region.

The attacks on Iran have effectively closed the Strait of Hormuz, the world's most critical oil choke point. Oil prices are up, ships are stranded, global shipping is kind of in limbo.

Canada prepared 50-litre gasoline rationing stamps in 1979 amid the oil crisis, though ultimately did not circulate them. A national rationing system would have allowed essential services like ambulances and farmers to get priority access to gas.

They don't know what the hell hit them! ... They said: What the hell is happening?! Much of the world is asking the same question. While Trump and Israeli prime minister Benjamin Netanyahu starting a war with Iran can't have come as that much of a surprise globally, the far-reaching shockwaves of the war - which now involves the militaries of at least 20 nations, is triggering an unprecedented global oil crisis, and seems set to drag on for an indeterminable amount of time - clearly have.