Strait of Hormuz crisis underlines how Labour's 'energy austerity' plays into China's hands, warns expert
The Strait of Hormuz crisis highlights the UK's vulnerability due to its reliance on Chinese renewable energy technology, according to a top US energy strategist. The crisis has strained the UK-US 'special relationship' as the UK has refused to send warships to protect the shipping lane.
A top US energy strategist, Chris Johnson, has warned that the UK's 'energy austerity' policy could play into China's hands. The Strait of Hormuz crisis has exposed the UK's vulnerability due to its over-reliance on Chinese renewable energy technology. Johnson predicts the global oil price volatility will calm soon due to the US's military might. The UK has refused to send warships to protect the shipping lane, straining the UK-US 'special relationship'. The crisis has caused volatile global oil prices, with Brent crude often exceeding $100 per barrel. Johnson warns that prolonged closure of the Strait will have serious economic consequences for countries unprepared for a long-term supply crunch.
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