Former British Chancellor of the Exchequer (Minister of Finance) Sir Jeremy Hunt said in the House of Commons that the Treasury's "rule of thumb" was that "a 20% increase in energy prices meant 1% more on inflation and 0.5% less on growth."
Iran might keep the Strait of Hormuz almost closed for months except to her friends like China.
Reminder: high energy prices benefit Russia.
Never trust the judgement in anything of people who cheer on this war, a war for which no clear reason has yet been given.
You should not respect them any more than you should the people who say with a straight face that Epstein was probably working for Russia.
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