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Opinion

John Kehoe

This oil shock is not as bad as the 1970s. Not yet

Fuel prices have not increased as dramatically, 5 per cent inflation is a long way from double-digits, and most home borrowers can cope – for now.

None of the geopolitical and economic experts really know the full consequences of the oil supply shock from the Middle East conflict.

There is an unpredictable tit-for-tat going on between Donald Trump and Iran. Anybody who claims to have crystal ball-like powers for this uncertain geopolitical world is delusional.

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