Looming Energy Crisis Could Echo Oil Shock Of 1970s, Ex-Bank Of England Deputy Warns
A digital signboard shows the latest prices for a litre of petrol and diesel at a petrol service station in Guildford, south west of London on March 29, 2026. The UK could be on the cusp of an energy crisis comparable to the chaos seen in the 1970s, according to a former deputy governor of the Bank of England. Iran continues to restrict the number of oil tankers which can travel through the major shipping lane, the Strait of Hormuz, in retaliation against the US Israel strikes from last month
A digital signboard shows the latest prices for a litre of petrol and diesel at a petrol service station in Guildford, south west of London on March 29, 2026. The UK could be on the cusp of an energy crisis comparable to the chaos seen in the 1970s, according to a former deputy governor of the Bank of England. Iran continues to restrict the number of oil tankers which can travel through the major shipping lane, the Strait of Hormuz, in retaliation against the US Israel strikes from last month
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