Patricia Cohen

But rich countries are having an impact as well.

In South Korea, they've started this energy savings campaign, urging people to take shorter showers, to ride bicycles.

And you're seeing effects in other rich countries, too, like in Europe, which also uses LNG, although it's not effective.

quite as dependent as Asia, prices have gone up a lot.

So what you've seen in a lot of countries are leaders talking about trying to help consumers afford heating bills so they've cut taxes on some of their energy.

Exactly.

So I just happened to look at the price of gas in Britain, for instance.

I live in London.

And, oh, my God, natural gas prices have increased in Britain by 40 percent.

Wow.

Just since the Iran war started.

Well, you know, I think it can be confusing for Americans because we know that the United States is actually the biggest producer of oil and it also produces a lot of LNG.

In fact, Europe buys a lot of its LNG for the United States.

But what you have to remember is that the price of energy is set on a global market.

And so when that's going up, that's going to affect everything.

But there's something more that I think is important to remember.

And that is not only the direct effects of price increases, but there's also going to be other indirect effects, knock-on effects down the road that are very important.

Right.

All right.

So let me start with one, which is the idea of safety and trust.