The Worldwide Energy Crisis Expands as The Philippines Declares a State of Emergency
As the war in Iran rages on with no signs of stopping anytime soon, the worldwide energy crisis is expanding. The Philippines appears to be the first country to declare a State of Emergency, as their fuel supplies have dwindled to only 45 days' worth. The International Energy Agency (IEA) is warning that the ongoing US-Israel-Iran conflict has already removed around 11 million barrels per day from global oil supply, an impact larger than past oil crises combined. IEA Executive Director Fatih Birol told the National Press Club in Canberra, Australia, on Monday that the current disruption exceeds the combined supply losses of the 1973 and 1979 energy shocks. This is leading to supply chain disruptions, and also consumer panic in stores in some countries. Remember how toilet paper was the first thing to run out in American grocery stores in 2020 when COVID began? It's starting again, in Japan.











