The Middle East energy war is out of control

This emergency episode of the Energy Flux podcast discusses the Israeli attack on Iran's South Pars natural gas field and retaliatory attacks on Qatar's LNG facilities.Energy Flux founding editor Seb Kennedy is joined by Victor Ponsford, strategic energy communications consultant, to assess the wide-ranging impacts of these unprecedented events on global gas supply and energy stability.They explore the market response, shipping and transit costs, deep geopolitical uncertainty, historical context, and the potential for broader escalation beyond the Middle East region. The conversation delves into the discrepancy between physical reality on the ground vs. cautious market pricing, and the inadequacy of conventional geopolitical analysis in the face of irrational actors on the global stage.Chapters00:00 Update on Middle East Energy War07:31 Initial Market Response14:17 Physical Reality vs. Market Pricing27:05 Regional Instability and Broader EscalationSign up for the free newsletter: www.EnergyFlux.news