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It’s not a crisis, and there is no shortage of anything, except, increasingly, everything.
Do not expect your government to tell you the truth during periods of war. It will lie every chance it gets.
Defence Minister Richard Marles has failed to rule out fuel rationing in Australia as the conflict in Iran stretches into its third week, piling pressure on oil markets around the globe.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.