PSA: Brace for impact

A lot of you are probably already aware of this, but the world is heading into a major oil crisis due to recent 'Events' surrounding the Strait of Hormuz.

While gasoline prices have already gone up, the full impact has yet to materialize in a lot of western countries, and will include severe price increases in everything (because everything needs electricity and/or transportation), not to mention a lot of people loosing their jobs.

Petroleum is also a precursor for fertilizer, meaning food prices will especially go up over the next one or two years.

These changes will likely persist for a long while even after the conflict is nominally over and the strait is open again, due to the time it takes for new shipments to reach their destination and due to the damage to oil extraction and refinement infrastructure on various sides.

If you have the option, I advise you to prepare as much as possible, e.g. by cutting back on spending or making plans for how to deal with much higher gasonline and electricity prices.