Briefly in the news in Aotearoa’s political economy around housing, climate and poverty on Thursday, March 12:
Iran has started mining the Strait of Hormuz and has warned the world it will have to pay US$200/barrel for oil because it will keep the Strait closed1.
Oil prices rose 6% this morning despite news of a record-high release of 400 million worth oil reserves by the International Energy Agency, largely because that amount represents about 12 days worth of supply that hasn’t been shipped through the Strait since March 1.
Homeless families in Northland are having to wait an average of 826 days to get a home with Housing First, RNZ reports.
Watties has announced plans to close its Christchurch and Dunedin factories with the loss of 350 jobs as it stops selling frozen veges because of low-cost imports and higher electricity costs.2
The budget for the new Cook Strait ferry has jumped by $167 million to $1.867 billion, The Post-$ reports this morning3. Paying subscribers can see more below the paywall fold & hear more in the podcast above.
