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These countries stayed out of the war — but they’re suffering from it

29 snips
Mar 24, 2026
Tom Fairless, a Wall Street Journal global economics reporter who analyzes energy markets, explains how a closed Strait of Hormuz could trigger an oil shock. He describes how poorer Asian countries face blackouts and workweek cuts. He also discusses fertilizer and food risks, rising LNG demand, and the political fallout from energy disruptions.
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INSIGHT

Strait Of Hormuz Caused A Massive Global Energy Shock

  • The Strait of Hormuz bottleneck has created an energy shock larger than two 1970s oil crises combined.
  • Tom Fairless notes Asia's heavy Gulf reliance forces poorer countries to enact measures like school closures and four-day workweeks to conserve fuel.
ANECDOTE

Everyday Life Changed To Save Energy

  • Countries responded with tangible daily-life changes to cope with shortages.
  • Pakistan closed schools, the Philippines moved some government agencies to a four-day week, and Thailand presenters removed suit jackets to discourage AC use.
INSIGHT

Energy Shock Threatens Global Food Supply

  • Energy disruptions ripple into food security because fertilizer components transit the Middle East.
  • The World Food Program warned a prolonged conflict through June could push 45 million more people into acute hunger.
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