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The Corbett Report - Feature Interviews

Interview 2007 - Iran War Oil Crunch Plunges World Into Crisis (NWNW #622)

The Corbett Report - Feature Interviews

The Corbett Report

News, Politics

4.8671 Ratings

🗓️ 13 March 2026

⏱️ 21 minutes

🧾️ Download transcript

Summary

This week on New World Next Week: the Strait of Hormuz becomes the world's energy chokepoint; authors push new human label to thwart AI; and still no prosecutions six years after the scamdemic.

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome back to New World next week. I'm James Corbett of Corbett Report.com.

0:17.2

And I'm James Evan Pallato of Mediamonarchy.com. Surely part of the pleasure is that sense of connection

0:21.7

with the content creator. We have got that fascinating story. Plus, Fukushima and COVID anniversaries.

0:28.6

But first, nations worldwide move to conserve fuel as straight of Hormuz closure threatens global economy.

0:36.3

Pakistani Prime Minister Shabez Sharif announced on 9 March

0:39.8

sweeping austerity measures to curb domestic fuel consumption after oil prices briefly reached

0:45.3

120 bucks a barrel due to the disruptions caused by the U.S. real war on Iran. The entire region

0:51.9

is currently in a state of war. Keeping this reality in mind, the government

0:56.0

took difficult decisions for the country's economy, Sharif said in his address. He said oil

1:00.9

prices already above 100 a barrel and could rise further, forcing Islamabad to conserve reserves

1:06.2

and take quick measures to reduce the need for fuel consumption across the country.

1:16.1

Measures in the public sector include a four-day work week for government employees and rotating work-from-home arrangements for half of the public staff.

1:21.0

The measures also involve two weeks of school closures, online classes for higher education,

1:25.8

cuts to official fuel use, salary reductions for ministers

1:29.3

and lawmakers, and restrictions on foreign travel and in-person government meetings.

1:33.1

This sounds really familiar.

1:35.6

Pakistani authoritized, said the plan was meant to utilize the available reserves of oil

1:40.7

in a judicious manner.

1:42.6

Workers in Pakistan who depend on driving for their livelihoods report that rising petrol prices

1:47.7

are eroding incomes and driving up the cost of everyday goods.

1:51.6

Elsewhere in Asia, Bangladesh imposed daily fuel sale limits after what Reuters described as

1:57.6

panic buying and stockpiling with state-run Bangladesh Petroleum Corporation saying

...

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