First Came the War, Then the Blockade, Now the Shortages; Epic Fury Has Become Epic Folly

In a recent op-ed in the Financial Times, headlined ‘The Gulf crisis may just be starting’, the paper’s well-known and highly regarded Chief Economics Commentator, Martin Wolf, analyses the impact of an aspect of the Gulf crisis that so far hasn’t got the attention it deserves i.e. the shortages and how their impact could get worse the longer they remain and the greater the physical damage done in the Gulf. He believes the real Gulf crisis may only just be starting. And he ends his Financial Times article with the following sentence: ‘The US called its war Operation Epic Fury. But Operation Epic Folly would have been a more realistic name’.