In this episode of Trading Up Unpacked, Jim Fitzpatrick and Richard Ramsey dive into the massive asymmetric global supply shock triggered by the Gulf War and \"Operation Epic Fury\". With the vital Strait of Hormuz facing blockades from both the US and Iran, 20% of global oil supply—along with LNG, fertilisers, and critical resources like helium—is severely disrupted.
How does this international chokehold impact everyday consumers and businesses? The hosts unpack the stark reality in Northern Ireland, where home heating oil prices have more than doubled and record-breaking petrol and diesel prices are sparking local protests. The episode unpacks the IMF's stark warning against government fuel subsidies, examining alternative interventions like free public transport to reduce demand. Finally, they explore the crushing \"Trumpflation\" pressures on local businesses battling soaring input costs, shrinking consumer discretionary income, and the strong business lobby against burdensome new employment legislation.
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