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There will be pain 14 Mar 2026TextView.SimilarArticlesCountJASON KIRBY MARK RENDELL JEFFREY JONES MUNIR UZ ZAMAN/AFP VIA GETTY IMAGES People refuel their motor­bikes at a gas sta­tion in Dhaka, Bangladesh, on Tues­day. Many con­sumers in the Global South and poorer coun­tries wouldn’t be able to afford higher fuel prices that would be caused by short­ages.

The tell­tale signs of an energy crisis – sup­ply shocks, rations and hoard­ing – are here, put­ting the global eco­nomy in harm’s way

In Novem­ber, 1973, just weeks into the Arab oil embargo that had already sent fuel prices skyrock­et­ing and triggered global panic, a Greek tanker named the MS Kimon moored in Van­couver to fill its vast hull with Cana­dian crude destined for a des­per­ate, energy-starved popu­lace: Cana­dians on the other side of the coun­try.

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