Energy Crisis: Global Leaders Unite for Relief

0:00It's April 7. This is Calgary News Today, your AI-powered local news. The fuel crisis from the war with Iran is hitting harder than the oil shocks of 1973, 1979, and 2022. Combined says Fatih Bural, head of the International Energy Agency, developing countries face the worst of it with skyrocketing oil and gas prices driving a food cost and inflation, though richer nations won't escape. The pain, either. Two weeks back, Bural flagged at least 40 key energy sites in the Gulf-Rect bat enough that supplies won't bounce back quick, even if fighting stops. President Trump ramped up the pressure, posting on truth social that a whole civilization could die tonight without a deal to reopen the straight-of. Hormuz, he drew a line Tuesday at 8 p.m. Eastern time for Iran to agree or risk strikes on power plants and other infrastructure. The International Monetary Funds Kristalina Georgiva flipped her Outlook 2, ditching a growth

1:01bump for 2026 and 2027. In favor of warnings on higher prices and sluggish global expansion amid all this uncertainty, leaders from the energy agency, IMF and World Bank are linking up Monday through a new coordination team to push policy help, financing at low or zero rates and tools to ease the fallout. Pressing that global teamwork is the only play right now.