The Geopolitics of Energy: A Risk Premium for Britons The latest increase in the energy price cap by Ofgem has dealt another blow to British consumers already struggling with rising costs.
Behind this economic story lies a complex web of geopolitics that threatens to leave consumers paying a "risk premium" for their energy supply.
At the center of the US Israel war on Iran is the Strait of Hormuz, which connects the Gulf to the ocean and carries approximately one fifth of the world's oil and liquefied natural gas (LNG).