Latest / The Kākā by Bernard Hickey
NZ faces a 1970s-style energy shock
Briefly in the news in Aotearoa’s political economy around housing, climate and poverty on Monday, March 16:
* New Zealand’s political economy faces its biggest energy shock since the 1973 Yom Kippur war, which preceded an inflation and growth upheaval that unseated the-then Labour Government after one term, and led to a decade of stagnation.
* Iran’s moves to block the Strait of Hormuz effectively just defeated the United States and Donald Trump, who cannot reopen the Strait quickly.
* Without re-opening within a week or two, the Asian refineries that rely on oil going through the Strait of…
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