The Oil Crisis w/ Dr. Basil Sharp: 18 March 2026

With the strait of Hormuz currently under an Iranian blockade, twenty percent of the world’s daily oil traffic now sits immobilised behind a wall of sea mines. Two and a half weeks into America’s war with Iran, people across the globe are feeling the effects of the conflict in the form of spiking fuel prices. With petrol prices in New Zealand surging past three dollars per litre, the government is considering its options.

Producer Toby spoke to Auckland University emeritus professor and energy economics expert Basil Sharp about the lessons we’ve learned (or perhaps failed to learn) from our response to the oil crisis of 1979, and what we could do now to improve our energy security in New Zealand.