Oil and gas production capacity has been damaged beyond repair in this region and cannot be restored for a number of years to come. In this situation, pretending, as most economic commentators appear to be doing, that the problems we are facing are a minor disruption caused by a temporary blip in fuel prices is ridiculous. Soaring oil prices, fuel shortages, and fertiliser supply disruptions are already making farming economically unviable in the Mekong Delta area of that country. The UK is dependent on imported food for between 40 and 50 per cent of our total food supply, and domestic food production costs are going to increase significantly. It destroys the conditions that make economic life possible, and a wholly inappropriate understanding of economics can only make this situation very much worse.

Source: The Guardian April 10, 2026 09:34 UTC