🚫🚙 From Four-Day Weeks to AC Bans, the World Is Scrambling to Save Energy
Governments around the world are pressuring consumers to reduce energy use in one of the broadest efforts to alter fuel-consumption habits since the 1970s, as the Iran war drives oil-and-gas prices sharply higher.
The changes are being rolled out as a mix of voluntary acts, soft restrictions and incentives to cut demand. But the policies are multiplying and growing more constraining as the crisis continues.
Surges in oil and natural-gas prices have put sharp pressure even on countries that don’t import energy from the Middle East. With prices of derivative products such as jet fuel and liquefied natural gas also affected, the economic fallout is already percolating down—even for energy exporters such as the U.S.
So far, the energy-saving proposals are most acute in Asia, which relies heavily on the Middle East for supplies. Sri Lanka has instituted a four-day workweek for state institutions and schools, and has started rationing fuel. Pakistan has moved to close schools for two weeks.
Bangladesh has banned the use of air conditioning to cool buildings under 77 degrees and ordered universities to close. The Maldives and Nepal are rationing the supply of liquefied petroleum gas—popular for cooking—urging households to switch to electric stoves.
After India restricted LPG supplies this month, catering companies were forced to prune their offerings for weddings and other parties—or find other fuels, such as charcoal and wood. After a jump in sales, many electric-induction-stove brands are now out of stock on sites like Amazon.
In Thailand, TV presenters removed their blazers on air recently in an effort to encourage citizens to turn down the air conditioning. Civil servants have been told to work from home, use stairs instead of elevators and wear lighter clothing instead of suits. State energy company PTT said it would turn off all lights during lunch breaks and after 7 p.m.
Taken together, the spurt of energy-saving policies doesn’t yet match those of the 1970s, when turmoil in the Middle East led to fuel shortages that prompted President Jimmy Carter to go on TV wearing a cardigan to urge Americans to turn down their thermostats.
Still, some policies are politically fraught. In the Philippines, transport federation Piston, whose members include tens of thousands of drivers and operators of the Philippines’ signature diesel-powered jeepney buses, called for the suspension of value-added and excise taxes and a fare hike in a protest this week.
Energy-price increases or fuel restrictions have often in the past triggered broad public opposition, from the Yellow Vest protests in France to the 2022 Sri Lanka protests that toppled the government. Europe’s energy crisis following Russia’s full-scale invasion of Ukraine increased political instability.
After the Iran war broke out, several countries’ first reaction was to cap or lower energy prices to soften the impact on consumers. Germany said it would ban gas stations from raising prices more than once a day—they can still lower them as often as they want—and France threatened to fine those found inflating prices.
Pedophile elites wanted to buy an Island, asked if it "comes with children".
Agent replied, the Island "does have a small school"
They don't know camera was rolling
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🇺🇸 #Oklahoma high school principal (Kirk Moore) seen charging at and disarming a school shooter.
The suspect, identified as 20-year-old Victor Hawkins, was a former student who said he wanted to shoot up the school “like the Columbine shooters did.” While taking down the shooter, Moore was shot in the leg. He is expected to recover.
When the Principal woke up that day, he never thought he would be tackling a gunman.
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Two months after the U.S. and Israel bombed Iran on February 28, the Strait of Hormuz remains closed for most tanker traffic, forcing more than 10 million barrels per day (bpd) of crude output shut-ins across the Middle Eastern oil producers.
The two-month-long closure of the Strait of Hormuz is longer than analysts had expected at the start of the war. Most assumed back then that the Strait would open by April and producers could restart shut-in wells in May.
Even if the Strait of Hormuz opened to free tanker traffic today, oil supply from the Middle East will take months to start flowing again and reach consumers in Asia, who were the first to feel the supply shock.
The longer the chokepoint remains off limits to most tanker traffic, the worse the scars would be on global supply and economic growth.
The restart of thousands of oil wells across the Middle East would be a big challenge. Some countries would need weeks, but others – like Iraq – many months to bring ...
🍚 War on Iran & El Niño threaten world rice production
Global rice supply is expected to decline this year as farmers across Asia reduce planting areas due to fertilizer shortages and higher fuel costs linked to the US-Israeli war on Iran, while an emerging El Niño weather pattern is also likely to further limit production of the world’s most widely consumed staple.
The impact of the war in West Asia is being felt by farmers in major exporting countries such as Thailand and Vietnam, as well as in import-dependent nations like the Philippines and Indonesia, according to growers and traders. Disruptions to fuel and fertilizer shipments through the Strait of Hormuz, a key global shipping chokepoint linking the Gulf to international markets, have contributed to the strain.
Smallholder farmers in Southeast Asia are also facing added pressure as El Niño is expected to bring hotter and drier conditions in the second half of the year.
đź”— The Cradle
🛢 “Why aren’t oil prices higher?” “How can the oil market be so complacent?”
Oil prices almost always trade to extremes. Right before it does, it always gets “obvious” from a fundamental setup standpoint.
I remember a great conversation I had with Nelson Wu of Open Square Capital about the oil market being analogous to toilet paper. You don’t realize how badly you need it until you run out of it.
Oil prices trade on the margin. As long as there are onshore inventories to draw from, traders don’t panic. It’s when you run low on onshore inventories that panic starts to set in.
Goldman published an update on Thursday that basically captured the storage math phenomenon that we are seeing:
Global visible total oil inventories remain bloated relative to historical standards. If, for example, we had started the conflict with global oil inventories at the 2025 lows, WTI and Brent would already be above $200/bbl.
The ~1.4 billion bbl cushion at the start of 2026 is what gave the US ...