Here & Now Anytime The Iran war and the future of energy
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Apr 30, 2026 
Daniel Yergin, economic historian and S&P Global vice chairman, and Michael Regan, Bloomberg managing editor, unpack geopolitical shocks and market fallout. They discuss the Strait of Hormuz closure, soaring oil and wholesale prices, Asian supply crises, shifts back to coal, and how renewables and AI-driven energy demand are reshaping global energy dynamics.
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Oil Shock Threatens Wider Industrial Inflation
- Oil price spikes ripple into industrial wholesale goods including petrochemicals, fertilizers, and helium, risking broader inflation.
- Michael Regan warns these wholesale increases can feed into consumer prices and affect food and semiconductor supply chains.
Hormuz Closure Drives Prolonged Energy Pain
- The Strait of Hormuz closure risks keeping global energy prices high and causing shortages.
- Daniel Yergin says prolonged closure will force rationing and make countries rethink energy security measures.
Prioritize Energy Security And Plan For Rationing
- Expect governments and companies to prioritize energy security planning and rationing where shortages occur.
- Yergin advises that, in the short term, few fixes exist beyond rationing and emergency measures if Hormuz stays closed.