The International Energy Agency has agreed the largest coordinated release of oil reserves in history as global markets react to escalating tensions in the Middle East. With the key Strait of Hormuz still blocked and Iran threatening oil prices as high as $200 a barrel while targeting tankers, fears are growing about the economic consequences of a prolonged conflict.
This discussion examines how severe the global energy shock could become, what it means for inflation and fuel costs in Ireland, and whether the Government should consider cutting energy taxes or suspending carbon taxes to protect consumers.
Guest Presenter Shane Coleman is joined by:
Naoise Ó Cearúil TD, Fianna Fail
Sorca Clarke TD, Sinn Féin
Aidan Regan, Professor of Political Economy, UCD
Kevin Doyle, Group Head of News, Irish Independent
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The Tonight Show | Tuesday & Wednesday at 10pm | Virgin Media One & Virgin Media Play
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#OilPrices #EnergyCrisis #StraitOfHormuz #MiddleEastConflict #Inflation #FuelPrices #Ireland #CostOfLiving #GlobalMarkets #EnergyPolicy
Credit to : Virgin Media News