Thoughtful Money with Adam Taggart · Sunday, July 26, 2026
David Hay highlights several geopolitical factors contributing to a severe energy shortage and rising oil prices. He points to ongoing issues in the Strait of Hormuz (20% of world's oil supply at risk) and the Red Sea (12% of global oil shipments imperiled), as well as Ukraine's actions against Russian energy infrastructure.
“So now you've got 20% of the world's oil supply and energy at risk to the Strait of Hormuz, and then coming out of the Red Sea, what is it, Ma'an Deb, something like that, the Strait down there at the bottom of the Red Sea, that's now imperiled. That's about 12% of global oil shipments.”
“And of course, Ukraine, which is, you know, going after Russia's energy lifeline. They hit over 100 Russian ships in less than 10 days, you know, recently. They are really going after Russia's energy lifeline.”
“So I just felt like the there was this incredible complacency and denial of reality. And you know, oil prices absolutely crushed, with, you know, what I think is the worst energy shortage we've ever seen.”