The haves and the have nots of energy

The Marketplace Morning Report episode explores divides in global energy access amid major supply disruptions, alongside updates on Tesla's business and guidance for young job seekers entering a tough market.

Energy Shortages Highlight Global Economic Divides

A chokehold on oil and natural gas flows through the Strait of Hormuz—described as the biggest energy disruption ever—has created stark haves and have-nots worldwide. Richer nations like the US, China, Japan, and South Korea, which have their own refineries and reserves, can bid up prices in the global shortage without facing outright shortages. Mark Finley from Rice University notes that in such crises, wealthier countries outbid others, while poorer ones ration. Matt Smith from Kepler adds that these nations are taking protectionist steps, such as dialing back exports to prioritize domestic needs.

In contrast, countries including Pakistan, India, Thailand, Taiwan, Vietnam, and the Philippines are running low on fuel. They're implementing consumption curbs like canceling flights, mandating work-from-home, and rationing gas and electricity. The segment draws on Thucydides' ancient line—"the strong do what they can, and the weak suffer what they must"—to frame this as a timeless dynamic in international affairs and oil markets, amplified by hoarding, protectionism, or basic human nature.