Global Energy Crisis More Dramatic Than All Previous Shocks Combined
The head of the International Energy Agency (IEA), Fatih Birol, characterizes the current energy crisis due to the blockade of the Strait of Hormuz as worse than the crises of 1973, 1979, and 2022 combined. "The world has never experienced an energy supply disruption of this magnitude," Birol told the newspaper Le Figaro. The crisis threatens global energy supply in unprecedented dimensions.