We know what’s coming and we are prepared.
🌾🪫 "We're On Borrowed Time": Vitol LNG Chief Warns Of Coming Food Price Shock
Pablo Galante Escobar, the head of liquefied natural gas (LNG) at Vitol, warned the audience at the FT Commodities Summit earlier today that the "world is on borrowed time" and that the Gulf energy shock will develop into a food crisis unless LNG flows resume through the Hormuz chokepoint.
"We are on borrowed time. Every day this trade remains closed and every day production does not come back, we are building a problem for the future, and we are building a problem that, as I said, will be transferred from the energy side into many different sectors, with the food sector being a very important one," Escobar said, who works world's biggest independent energy trader.
Escobar continued, "This is not sustainable, or the energy crisis will become a food crisis. Only gas can supply the feed for fertilizers. We are building a problem for the future."
He added that even if the Hormuz chokepoint reopened today, it could still take three to five months for undamaged LNG production to fully recover.
Longer term, the Gulf market could lose about 20 million tons per year of global LNG supply growth in 2027 and 2028 because of damage to Qatari capacity and delays to new regional projects.
Escobar is correct that the second- and third-order effects of Gulf-related LNG supply disruptions are already rippling through the global fertilizer chain, sending prices sharply higher and triggering shortages across critical agricultural belts.
The downstream risk has been very clear: reduced fertilizer availability and higher input costs threaten to dent crop harvest yields later this year. In other words, this potentially sets the stage for a food price inflation spike.
The village of Piddington has voted for independence from the United Kingdom and to become a self governing village in a landslide vote.
91% Voting Leave
This comes after news that over 3,000 illegal migrants are to be dumped in their village.
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🌆 Market News Digest
[Sept 22, 2026 EST]
🔥 Top Stories
• Trump says US-Iran talks were “very productive” — White House/mediators signal momentum on a deal; Hormuz reopening and sanctions relief remain central
• Oil swings on Hormuz diplomacy, then settles lower — Brent/$94.59 WTI after ceasefire/deal hopes offset blockade and tanker-risk headlines
• Trump UNGA speech: hard line on Iran, AI, Greenland — urged isolation of Iran, vowed no global AI controls, signed Greenland security deal
• US stocks end mixed; Nasdaq hits fresh record — chip/AI names led, while banks lagged and rates stayed firm
⛽ Oil & Energy
• Hormuz remains the key market risk — Iran alternates between reopening talk and threats; U.S.com/Gulf push de-escalation and alternative flow routes
• Aramco, Libya, Iraq headlines support supply-watch — Aramco eyes gas reorg/listings; Libyan shutdown trims output; Iraq exports top 3 mln bpd
📊 Markets & Macro
• Fed speakers stay hawkish-ish — Collins/Barkin ...
PN I know I disappeared for awhile. I’ve been writing a little but not much. I had a death in my family and it hit hard. I’m trying to get moving but having a hard time.
I want you to know my husband works for one of the largest trucking companies in the country driving heavy haul. He delivers feed to all the chickens out here in the pacific nw. Up and down Wa and Or. He will not be participating in the protest 10/1 due to the fact that he is company and this job was hard to find. He feels diesel is going up in a very bad way. That’s the word with the truckers. If things continue the way they are it may be $8-10 a gallon in ten days. They are trying to break us. His company subsides the diesel through the government so they don’t feel the effect except when seeing the pumps. He feels that they will be affected heavily by the end of the month, the company rigs that is. It’s going to get very nasty and with all this stuff in the middle east with both straits, as you already ...
