A drone strike shut down Saudi Arabia’s East-West oil pipeline this week, knocking roughly 5 million barrels a day offline. That’s about 5% of global supply, and it pushed Brent crude above $104. US diesel is at record highs.
That’s the fossil fuel crisis making headlines. The quieter one is on your own utility bill, and it’s not getting better either.
The East-West line, also called Petroline, is the pipe Saudi Arabia uses to move crude to the Red Sea and skip the Strait of Hormuz. With Hormuz already choked…
