Rich Kleinbauer

I hate to be the bearer of bad news but if infrastructure like this 👇 gets blown up, as of this moment it will take at least a decade to recover from this war - and the truth is that the world's energy picture is probably changed forever. This single facility 👇produced roughly 20% of global LNG supply (aljazeera.com/news/2026/3/18…) and, as of 2011, had taken $70 billion to build (energyintel.com/0000017b-a7be-…). What makes this even worse is that Iran's strike on this was retaliation after Israel attacked their South Pars gas field which draws from the same natural gas reservoir, which is the world's largest by far (9,700 km² - about the size of Qatar itself). Heck, on the list of the 25 largest natural gas fields (en.wikipedia.org/wiki/List_of_n…) this single reservoir holds roughly 40% of their combined recoverable reserves - and is nearly 6 times bigger than the 2nd biggest field in the world. And, unlike many of the others on the list, it's only at 10% depletion (meaning 90% of the gas is still there). Which means that, probably for many years, a huge share of the gas from the world's largest reservoir simply won't be extractable, as infrastructure on both sides - Qatar's and Iran's - has now been blown up. From a global energy supply perspective, we're deep into worst-case scenario territory.

Oil markets are waking up to a new reality: Disruption to the Gulf’s prodigious energy supplies isn’t ending anytime soon on.wsj.com/412QSzw

Strait of Hormuz in the last 24 hours. Source: @MarineTraffic

The mood at the Pentagon is “intense and paranoid” that the US will deplete key air defense stockpiles in an effort to defend Israel and US military bases across the Middle East. Munitions may also dry up if the US continues to attack for an extended period. So far, 1,000 military targets in Iran have been blown up. Follow: @AFpost