The David McWilliams Podcast The Next Global Recession?
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Apr 2, 2026 A historical tour of past oil shocks and how surging energy prices have repeatedly pushed global growth into crisis. Stories from local fuel shortages to the geopolitics around the Straits of Hormuz. Analysis of how oil spikes interact with debt, financial fragility, and political power shifts. A look at who gains and who faces the next big economic hit.
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Oil Shocks Consistently Precede Recessions
- Oil shocks historically trigger recessions with higher inflation and unemployment across multiple decades.
- David McWilliams traces repeated shocks (1973, 1979, 1990, 2008) showing growth collapses and lasting economic damage.
Great Ocean Road Farmers Cancel Plans Due To Fuel Costs
- John Davis reports local Australian effects: canceled Easter bookings, empty hotels, and farmers facing 30–60% higher fuel bills.
- A 1,900-acre farmer must decide whether to run five diesel tractors for fertilizing and sowing amid soaring fuel costs.
Small Oil Cuts Trigger Panic And Hoarding
- A 10% cut in oil supply can have outsized effects because human expectations and panic amplify shortages.
- McWilliams compares petrol queues to bank runs: fear triggers hoarding, raising immediate demand and shortages.