Posted on 03/30/2026 9:21:46 PM PDT by RandFan
The month-long closure of a crucial waterway for the global energy supply has sparked warnings the world is heading for problems worse than those caused by the 1970s oil crisis.
Lars Jensen, a shipping expert and former director at Maersk, told the BBC the impact of the US-Israeli war on Iran could be "substantially larger" than the economic chaos seen in the 1970s.
His comments follow a warning from the director of the International Energy Agency, Fatih Birol, earlier this month that the world is "facing the greatest global energy security threat in history".
"It is much bigger than what we had in the 1970s, the oil price shocks. It is also bigger than the natural gas price shock we have experienced after the Russia's invasion of Ukraine," he told the BBC.
But while the closure of the Strait of Hormuz is disruptive to global supplies, others argue the world today is more resilient.
What happened in the 1970s oil crisis?
The 1970s oil crisis was "fundamentally different" from today's, as the first oil shock back then was "the result of a deliberate policy decision", economist Dr Carol Nakhle, who is also the chief executive of Crystol Energy, told the BBC.
In October 1973, Arab oil producers placed an embargo on a group of countries led by the US over their support for Israel during the Yom Kippur war. That policy came alongside a co-ordinated cut to oil production.
"The result was a near quadrupling of oil prices within a few months," Nakhle said.
This led to fuel rationing in major oil-consuming countries, and Nakhle said it triggered a "global economic and financial crisis" with lasting implications.
(Excerpt) Read more at bbc.co.uk ...
This place can be a bit inhospitable at times.
Saddens me because I’m alone now and you all are the “ family “‘I have left.
😕
Don’t forget seekAndFind
Yes. It can indeed be inhospitable, but I don’t expect it from someone I was defending. I have tried over the years to limit the people I don’t want to associate with, but even still, I have about seven people I simply don’t interact with anymore.
When people are rude to me, my first approach is to ensure they didn’t just misunderstand my post, which is easy to do on a forum like this. If I attempt to explain it, on civil terms as I did with the person on this thread who clearly did not understand and persisted in insulting me, the person doubled down on rudeness which I won’t tolerate.
It is one thing if I am mean to someone and they give it back. It is another thing when someone is abuseive and you were clearly defending them, and they insult you again and again.
I understand your point of view-this forum is a lifeline for many here, especially those who live in blue states or areas where they are unable to discuss these kinds of issues with like minded people.
This forum has been infiltrated by people who wish us ill, and this poster I am having this odious disagreement with is not one of those, but this person has come at me in an offensive manner before.
So, this is not the first time this person has irrationally come at me for some transgression he took personally when it was nothing of the sort. At that time I decided just to ignore that person, and after a while we began, having discourse again, albeit in a guarded and vanilla tone, until this. It is the exact same kind of issue. So this is a person I will simply ignore on the forum.
I have plenty of people on this forum I have been privileged to meet in person, and I like them all. I believe it is possible to view people on this forum as “family” as you do. I find value in it. But not longer with that person.
I get what you mean about SeekAndFind, but I am withholding judgement simply because that person starts threads on other things, and is not generally someone I view as a “one trick pony”.
The other folks I mentioned are very consistent in the types of threads they start.
I’m so sorry.
I’ve had the same issue with someone whose side I always took on a particular topic still being snippy to me.
I always look for the misunderstanding first, too.
If it goes o n more than a few posts, I just walk away.
It’s too stressful to bicker online anymore.
Thank you for your service!
🫡
We used to drive 30 miles to one station when they had their .99 gallon sale going.
It is stressful. And in the end, it isn’t worth it. But I am stubborn, and when I feel that I have been unjustly and rudely attacked, I get even more intractable.
That is a personal failing which I am in constant combat with. It has improved as I get older.
I mentioned that I have been here over 20 years now and am approaching 114K posts, so I have a good deal of discourse with people, and I only have between 5-7 people I don’t interact with.
Generally, when I have an unpleasant discourse with someone, and I have a chance to get outside my stubbornness mode, I can recognize if I have been unfairly disagreeable with them, and I will make a point of apologizing to them publicly in the forum, not via FReepmail. And I do it with no excuses, justifications, or explanations. I simply make a point to apologize straight up for my incivility. and I ask if they would accept an apology from them with no conditions. I also state that if the person does not feel inclined to accept an apology, I will accept that at face value and let things move on.
In those situations, the vast majority of people show their quality and accept the apology, and we end up being pretty good FRiends.
I am on my journey to be a real Christian, and there are two main things that make me realize on one hand, that I am coming up in my journey to Christ, and on the other hand, make me feel that I am closer to Christ.
When I am uncivil, I feel I am moving away from Christ, and failing in my journey. And that includes this interaction with this person today, where I intentionally became more uncivil and intent on causing that person some kind of psychic pain.
When I ask for forgiveness (or are asked for it and I am able to give it) I feel closer to Christ. Forgiveness, from what I can see, is close to the heart of Christianity.
And I have personal experience with a grievous wrong done to me as a child, and when I encountered that person later in life, realized how in my heart I could forgive that person, and how much peace that filled me with. It is related to the truism that a corrosive thing held in a container can cause just as much damage to the vessel as it can if exposed to the environment.
So, as I have grown older, I try to leverage that as often as I can. I am not sure I want to approach this person in that fashion, as this is not the first time I have felt irrationally assaulted by them, and I feel it may be better just to ignore that person for the rest of the time we may cross paths on this forum.
Very kind
I have had a very similar soul journey.
After decades of anger over a childhood abuse, I have fully forgiven the abuser to a point of love and acceptance that almost seems impossible but there it is.
And rather than feeling he’d finally broken or somehow defeated me, I felt so relieved and freed that it was incredible.
That seemed to be a turning point because now I’d have to actually work at holding a grudge.
That shift kinda freaked me out.
You’re such a level, polite and rational person that your very small “ list”‘isn’t surprising.
🙂
*very grateful for those who watch over us
♥️
Does he like gladiator movies?
/surely I jest
Yes...I see you get it too. There's the road. All we have to do is follow it.
And, being human (and therefore imperfect) we follow it imperfectly...:)
God bless you and keep you dear FRiend.
🙏🏻♥️🙏🏻
And you too...:)
😊
👍👍
The only speeding ticket my dad ever got was when he and mom were driving to Florida from Michigan. He got ticketed in Ohio for doing 60 in a 55......And to make matters worse, he was tracked by a state police airplane.....
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