This is John Batchelor, a conversation with my colleague Joseph Sternberg, who is in London for the

Wall Street Journal editorial page. He writes political economics about the remarks that made by the

President of the United States about jet fuel, go get your own, something like that, to Great Britain

and the rest of Europe. There looks to be a shortage of jet fuel, if not right now, soon enough.

And the Prime Minister's remarks are judicious and a little vague in return. However, the question

I ask Joe, is there any indication of shortages? Is there any indication of alarm? And he answers very carefully. Not yet,

but is Joseph Sternberg in London, watching the same war we're watching here from the East

coast of the United States. And what's next? No one knows. More deny.

I mean, at the moment there don't appear to be any shortages of that sort of thing, but there is

enormous anxiety about prices. And it is often the case in these kinds of situations that before

you get to the point where something like jet fuel or gasoline for people's cars just isn't

available at all, you can go into a situation where it is

available, but at prices that are so high that it's really difficult for people to afford it.

So I think that that is likely to be the crisis that the UK will get to first before

you get to any shortages that might result.