Geopolitical Economy Report
Geopolitical Economy Report
Ben Norton
Biggest oil crisis in history: The REAL reason why gasoline is so expensive
25 minutes Posted Sep 21, 2026 at 2:08 pm.
Largest oil crisis in history
Price of gasoline skyrockets
Diesel prices break records
US midterm election approaches
Inflation and Donald Trump
Fed raises interest rates
US bond market problems
Trump is unpopular, and desperate
Saudi oil pipeline attacked
Bab al-Mandab Strait
US-Saudi war on Yemen backfires
US deal with Houthis (Ansarallah)
Crisis in Saudi Arabia
Ukraine hits Russian oil facilities
China reduces crude oil imports
Chinese electric vehicles (EVs)
China's solar and wind power
China increases oil imports
Global oil reserves running low
US Strategic Petroleum Reserve (SPR)
Energy crisis will get worse
Outro
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Show notes
Gasoline prices are skyrocketing, breaking records, after the US war against Iran caused the biggest oil supply disruption in history. Ben Norton explains the geopolitical and economic reasons for the energy crisis, including the closure of the Strait of Hormuz and disruption of the Bab al-Mandab Strait, sabotage of the Saudi East-West Pipeline, Ukraine's attacks on Russian refineries and diesel storage depots, China's reduction of crude imports and renewable energy policies, and falling global oil reserves.
VIDEO: https://www.youtube.com/watch?v=aTSgA8qwIZ8
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