Is Energy About To Get Even More Expensive?
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Hello, it's good to be back. Very impressed by James's epic swim that he's about to embark on. Slightly disappointed that Alex hadn't started reading the Iliad yet, but she has been busy. Uh mainly though, worried personally that I'm way behind on my target of running 500 kilometers in Andy Burnham's first hundred days. Here's how the spreadsheet's looking. Distance run so far: 227.32 kilometers. Distance remaining two hundred and seventy two point six eight kilometers. Number of days remaining, Forty one. So wish me luck as I now run an average of six point seven kilometers every day until the budget on the twenty eighth of October. What could take my mind off it? I know, I cancer through all the major news stories happening in the world.
In this episode of Newscast. Newscast. Newscast
from the
BBC.
Humanity's next great voyage begin. You know I like my bosses, I'll come onto them. I see that he was, I guess, a mere of a town. Ooh
la la. Thinking about it like a panto helped.
Do we play music now or what do we do?
And what will
you do? Stare at a wall.
Hello, it's Adam in the Newscast Studio, and this is one of those episodes where geography is going to prove to be very, very important because we've all got used to the Strait of Hormuz to the west of Iran, which has been, well, not necessarily open for the last few months as a result of the war between the US, Israel, and Iran. But the world economy thought they'd found a workaround, which was this pipeline that goes from east to west across Saudi Arabia, which means that oil can Flow through the Red Sea instead of the pretty much blocked Strait of Hormuz. However, in the last few days, there have been some attacks on that pipeline, leading to quite dramatic reports that the Saudi supply of oil to Europe and the rest of the world might plunge over the next couple of months, which would have big knock-on effects for the world economy.
Initially, the attack on the pipeline was pinned on the armed rebel group. The Houthis, who are part of the civil war in Yemen and who the Saudis are fighting against in Yemen. But it's now emerged that it probably wasn't them who were to blame. So it's all getting quite complicated and quite scary for the world economy. So the two people who can help us untangle it all are here in the newscast studio. Please welcome BBC diplomatic correspondent Caroline Hawley. Hello, Caroline.
Hello.
And you've been covering this region for a long time.
Uh I have, although the this uh recent Hoothi advance only recently. Um it only began recently. Yeah. But yeah, I've Although the
civil war in Yemen that the Houthis are involved in has been running for well more than a decade, hasn't it?
That's been running since twenty fourteen. Um then there was a ceasefire. that uh was announced in twenty twenty two that broke down in July this year.
And Simon Jack is here. Hello, Simon. Hello, Adam. Um, so before we dive into what's actually been happening in the region and some of the reasons for it, Simon, what do we know about what is happening to the oil supply from Saudi to Europe over the next few months?
Well, we o we obviously know that the Strait of Hormuz is operating at extremely limited capacity. We already knew that, although some vessels are getting through. The plan B was basically a pipeline which goes from the east of Saudi Arabia across to the west towards the Red Sea part of uh the coast of that, and that can go either north through the Suez Canal or out past Aden, Yemen, off to Asia.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–8:34
2
What is the current status of the Saudi east‑west oil pipeline and why does it matter?
8:34–21:23
3
Who is really behind the recent attacks on the pipeline – Houthis or an Iraqi militia?
21:23–30:30
4
How could the pipeline disruption affect global oil supply and prices?
30:30–37:45
5
What are the broader economic implications of higher oil prices for the UK and US?
37:45–41:58