Well, howdy there, internet people, it spell again.

So today, we're going to talk about Trump's oil shock.

We're going to go over what the head of the International Energy Agency said.

This is one of those times where the experts really kind of say everything that needs to be said.

So it's quote heavy.

The expert in question is Fadi Beryl.

Before leading the whole agency, he was the chief economist, which put him in charge of the IEA's widely referenced World Energy Outlook.

Before that, he was with OPEC.

He has a pretty clear picture of the energy world.

The head of the IEA put forth quite a statement while talking to the National Press Club of Australia.

The big takeaway was when he spoke about the oil crises of

1973 and 1979. Quote, at that time, at each of the crises, the world lost about 5 million barrels

per day. As of today, we've lost 11 million barrels per day, so more than two major oil

shocks put together. The oil shock of the 70s was one of the main contributors to stagflation

gripping the economy. And beyond oil, he pointed to the natural gas supply.

Quote, after the Russian invasion of Ukraine, the gas markets, especially in Europe, we lost 75 billion cubic meters.

Now, as a result of this crisis, we lost about 140 billion cubic meters.

He went on to sum up the situation facing the world due to Trump's war. Quote, this crisis, as it stands now, is two oil crises and one gas crisis

put all together. Well, that sounds delightful, doesn't it? I'm sure that

will do wonders for inflation. He went on to speak about securing energy in the future, and

talked about nuclear and renewables. Yes, the same renewables Trump has been trying to shut down and stop production of.

Shock. That's the future. Back to the oil crisis. He didn't rule out the possibility of additional

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