Fertilizer Prices Have Doubled Since the Strait Closed

The blockage of the Strait of Hormuz is causing a much larger problem than just a global energy crisis. While oil and gas are critical to energy security for nearly every country on Earth, petroleum is also at the heart of global food systems. A crude oil shortage is also a fertilizer shortage, with potentially disastrous consequences for farmers and consumers, especially in the world’s poorest countries. As the war in Iran stretches on, half the world’s calories are at risk. Roughly half of all fertilizer feedstock exports in the world…