Why the Energy Crisis Isn’t Worse—Yet

Why the Energy Crisis Isn’t Worse—Yet

The ongoing war in Iran has been called the biggest energy crisis in history. How is it changing the plans of countries and companies? Which changes will be permanent? Ravi turns to Daniel Yergin, the world’s foremost expert of the oil industry and its history. Yergin is the vice chairman of S&P Global and the author of The Prize, The Quest and, most recently, The New Map: Energy, Climate, and the Clash of Nations. Plus, Ravi shares his read on the expanding conflict in the Middle East. Philip H. Gordon: There’s Only One Way Out of Trump’s Reckless War [https://foreignpolicy.com/2026/07/23/iran-united-states-trump-hormuz-war-nuclear/?utm_content=gifting&tpcc=gifting_article&gifting_article=aXJhbi11bml0ZWQtc3RhdGVzLXRydW1wLWhvcm11ei13YXItbnVjbGVhcg==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Allison Minor and Nate Swanson: How to End the Iran War [https://foreignpolicy.com/2026/07/29/trump-iran-hormuz-mou-cease-fire-energy-peace/?utm_content=gifting&tpcc=gifting_article&gifting_article=dHJ1bXAtaXJhbi1ob3JtdXotbW91LWNlYXNlLWZpcmUtZW5lcmd5LXBlYWNl&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Fatih Birol: The Global Energy Map Is Being Redrawn in Real Time [https://foreignpolicy.com/2026/07/08/energy-oil-fossil-fuel-hormuz-iran-ukraine-war/?utm_content=gifting&tpcc=gifting_article&gifting_article=ZW5lcmd5LW9pbC1mb3NzaWwtZnVlbC1ob3JtdXotaXJhbi11a3JhaW5lLXdhcg==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Michael Hirsh: How the Iran War Reshaped the Global Landscape of Power  [https://foreignpolicy.com/2026/06/18/iran-war-ceasefire-deal-israel-united-states/?utm_content=gifting&tpcc=gifting_article&gifting_article=aXJhbi13YXItY2Vhc2VmaXJlLWRlYWwtaXNyYWVsLXVuaXRlZC1zdGF0ZXM=&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] John V. Bowlus: Escaping the Hormuz Trap [https://foreignpolicy.com/2026/04/27/hormuz-trap-oil-pipeline-iran-war-united-states-arab-israel/?utm_content=gifting&tpcc=gifting_article&gifting_article=aG9ybXV6LXRyYXAtb2lsLXBpcGVsaW5lLWlyYW4td2FyLXVuaXRlZC1zdGF0ZXMtYXJhYi1pc3JhZWw=&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Ali Ahmadi: The Oil Market Is Much More Vulnerable Than Trump Believes [https://foreignpolicy.com/2026/07/21/iran-war-oil-markets-crude-prices-hormuz-strait-reserves-houthi-blockade-united-states-saudi-arabia/?utm_content=gifting&tpcc=gifting_article&gifting_article=aXJhbi13YXItb2lsLW1hcmtldHMtY3J1ZGUtcHJpY2VzLWhvcm11ei1zdHJhaXQtcmVzZXJ2ZXMtaG91dGhpLWJsb2NrYWRlLXVuaXRlZC1zdGF0ZXMtc2F1ZGktYXJhYmlh&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

The Iran Expert Trump Fired

Iran and the United States are locked in a familiar pattern. Conflict has resumed, both sides seem caught in an escalation trap, and oil prices are rising. What would it take for Tehran and Washington to both save face and step back? Ravi Agrawal turns to career diplomat and Iran expert Nate Swanson, who was fired by the Trump administration last year.  Plus, Ravi shares his read on India’s youth protests and the so-called “Cockroach Janata Party.”  Sumit Ganguly: India’s Cockroach Movement Gains Momentum [https://foreignpolicy.com/2026/06/03/india-cockroach-janta-party-youth-unemployment-protest/?utm_content=gifting&tpcc=gifting_article&gifting_article=aW5kaWEtY29ja3JvYWNoLWphbnRhLXBhcnR5LXlvdXRoLXVuZW1wbG95bWVudC1wcm90ZXN0&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Ellie Geranmayeh: How the United States and Iran Can Solve Hormuz [https://foreignpolicy.com/2026/07/15/hormuz-iran-united-states-trump-war-israel-shipping/?utm_content=gifting&tpcc=gifting_article&gifting_article=aG9ybXV6LWlyYW4tdW5pdGVkLXN0YXRlcy10cnVtcC13YXItaXNyYWVsLXNoaXBwaW5n&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Dennis Ross: How to Isolate Tehran [https://foreignpolicy.com/2026/07/17/tehran-iran-trump-hormuz-diplomacy-force-strikes/?utm_content=gifting&tpcc=gifting_article&gifting_article=dGVocmFuLWlyYW4tdHJ1bXAtaG9ybXV6LWRpcGxvbWFjeS1mb3JjZS1zdHJpa2Vz&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] David Ignatius: Trump Pushed the Reset Button. This is ‘Iran Fiasco 2.0.’ [https://foreignpolicy.com/2026/07/15/iran-war-trump-treaty-hormuz-strait-mou-united-states-diplomacy/?utm_content=gifting&tpcc=gifting_article&gifting_article=aXJhbi13YXItdHJ1bXAtdHJlYXR5LWhvcm11ei1zdHJhaXQtbW91LXVuaXRlZC1zdGF0ZXMtZGlwbG9tYWN5&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Keith Johnson: Energy Markets’ False Dawn May Be Over [https://foreignpolicy.com/2026/07/08/energy-markets-oil-hormuz-us-iran-strikes/?utm_content=gifting&tpcc=gifting_article&gifting_article=ZW5lcmd5LW1hcmtldHMtb2lsLWhvcm11ei11cy1pcmFuLXN0cmlrZXM=&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Rob Geist Pinfold and Dania Thafer: The Gulf States That Iran Thinks It Can Attack [https://foreignpolicy.com/2026/07/14/iran-gulf-attacks-kuwait-bahrain-saudi-arabia-uae-trump/?utm_content=gifting&tpcc=gifting_article&gifting_article=aXJhbi1ndWxmLWF0dGFja3Mta3V3YWl0LWJhaHJhaW4tc2F1ZGktYXJhYmlhLXVhZS10cnVtcA==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Is the Trans-Atlantic Relationship Over? A Debate.

Is the trans-Atlantic relationship over? Nathalie Tocci argues that it cannot be rebuilt as it was: The liberal order that birthed trans-Atlanticism is gone, and a fundamental breach of trust has occurred. Alexandra de Hoop Scheffer sees it differently: Trans-Atlanticism was never based only on values but also on security, economic, and technological interests. The relationship has now entered a period of geopolitical maturity, where the two sides will pick and choose areas of cooperation. The two European experts debate their takes. Plus, Ravi shares his read on how renewed conflict in Iran hurts energy prices.  Alexandra Sharp: U.S.-Iran Talks May Continue, but the Cease-Fire Is Over [https://foreignpolicy.com/2026/07/10/us-iran-war-cease-fire-over-strikes-strait-hormuz-qatar-pakistan/?utm_content=gifting&tpcc=gifting_article&gifting_article=dXMtaXJhbi13YXItY2Vhc2UtZmlyZS1vdmVyLXN0cmlrZXMtc3RyYWl0LWhvcm11ei1xYXRhci1wYWtpc3Rhbg==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Rebecca F. Elliott and Lisa Friedman in the New York Times: China’s Next Move May Decide Whether Oil Prices Soar [https://www.nytimes.com/2026/07/13/business/energy-environment/oil-prices-iran-china.html] Nathalie Tocci: The End of Trans-Atlanticism [https://foreignpolicy.com/2026/06/15/trans-atlanticism-europe-united-states-mark-carney-davos-nato/?utm_content=gifting&tpcc=gifting_article&gifting_article=dHJhbnMtYXRsYW50aWNpc20tZXVyb3BlLXVuaXRlZC1zdGF0ZXMtbWFyay1jYXJuZXktZGF2b3MtbmF0bw==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Alexandra de Hoop Scheffer: Trans-Atlanticism Isn’t Dead—It’s Being Renegotiated [https://foreignpolicy.com/2026/07/01/nato-summit-transatlantic-alliance-dead-alive-trump-russia-defense-geopolitics/?utm_content=gifting&tpcc=gifting_article&gifting_article=bmF0by1zdW1taXQtdHJhbnNhdGxhbnRpYy1hbGxpYW5jZS1kZWFkLWFsaXZlLXRydW1wLXJ1c3NpYS1kZWZlbnNlLWdlb3BvbGl0aWNz&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Luke McGee: Washington Shouldn’t Fear NATO Expansion [https://foreignpolicy.com/2026/07/13/nato-expansion-ukraine-sweden-trump/?utm_content=gifting&tpcc=gifting_article&gifting_article=bmF0by1leHBhbnNpb24tdWtyYWluZS1zd2VkZW4tdHJ1bXA=&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Dimitar Bechev: Contain, Consolidate, and Co-Opt [https://foreignpolicy.com/2026/06/05/europe-strategy-turkey-russia-china-putin-erdogan-brussels/?utm_content=gifting&tpcc=gifting_article&gifting_article=ZXVyb3BlLXN0cmF0ZWd5LXR1cmtleS1ydXNzaWEtY2hpbmEtcHV0aW4tZXJkb2dhbi1icnVzc2Vscw==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Can Ukraine Win in Russia?

Ukraine has a new strategy in its full-scale war with Russia: using drones to attack deep into Russian territory and bring the war home to the Russian people for the first time. Has this put Moscow on the backfoot? What will it mean for the chances of a deal? Dmytro Kuleba, a former Ukrainian foreign minister and senior fellow at Harvard University’s Belfer Center, joins FP Live for a frank and realistic assessment. Plus, Ravi shares his read on the NATO summit in Ankara. Charles Dainoff, Geoffrey Fain Williams, and Robert Farley: Is Ukraine’s Decentralized Drone Innovation a Blip or a Revolution? [https://foreignpolicy.com/2026/07/10/ukraine-drones-front-battlefield-innovation/?utm_content=gifting&tpcc=gifting_article&gifting_article=dWtyYWluZS1kcm9uZXMtZnJvbnQtYmF0dGxlZmllbGQtaW5ub3ZhdGlvbg==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] John Kennedy and Jacob Parakilas: Putin May Escalate, but Ukraine Is Winning [https://foreignpolicy.com/2026/07/07/ukraine-winning-war-russia-zelensky-putin-kyiv-moscow/?utm_content=gifting&tpcc=gifting_article&gifting_article=dWtyYWluZS13aW5uaW5nLXdhci1ydXNzaWEtemVsZW5za3ktcHV0aW4ta3lpdi1tb3Njb3c=&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Christian Caryl: Ukraine Finally Has a Theory of Victory. Will It Work? [https://foreignpolicy.com/2026/07/09/ukraine-russia-war-theory-victory-putin-zelensky-crimea-missiles-deep-strikes-oil-refinieries/?utm_content=gifting&tpcc=gifting_article&gifting_article=dWtyYWluZS1ydXNzaWEtd2FyLXRoZW9yeS12aWN0b3J5LXB1dGluLXplbGVuc2t5LWNyaW1lYS1taXNzaWxlcy1kZWVwLXN0cmlrZXMtb2lsLXJlZmluaWVyaWVz&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Paul Hockenos: The Strategy Behind the Battle for Crimea [https://foreignpolicy.com/2026/07/02/ukraine-crimea-russia-strategy/?utm_content=gifting&tpcc=gifting_article&gifting_article=dWtyYWluZS1jcmltZWEtcnVzc2lhLXN0cmF0ZWd5&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Is Trump Really Planning to Invade Cuba?

After the United States ousted Venezuela’s Nicolás Maduro in January and then took out Iran’s senior leadership in the following months, U.S. President Donald Trump set his sights on Cuba, claiming that he would have the “honor of taking” the island. Michael Bustamante, a leading historian of Cuban-American relations, joins FP Live to assess the White House’s strategy and Havana’s options.  Plus, Ravi shares his read on the diverse United States seen by World Cup tourists.  Oliver Stuenkel: Washington’s Cuba Policy Is Self-Sabotage [https://foreignpolicy.com/2026/06/30/cuba-us-blockade-sanctions-trump-humanitarian-crisis/?utm_content=gifting&tpcc=gifting_article&gifting_article=Y3ViYS11cy1ibG9ja2FkZS1zYW5jdGlvbnMtdHJ1bXAtaHVtYW5pdGFyaWFuLWNyaXNpcw==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Howard W. French: Trump Is Playing With Fire in Cuba [https://foreignpolicy.com/2026/06/04/trump-us-cuba-policy-blockade-oil/?utm_content=gifting&tpcc=gifting_article&gifting_article=dHJ1bXAtdXMtY3ViYS1wb2xpY3ktYmxvY2thZGUtb2ls&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] William M. LeoGrande and Peter Kornbluh: Is the United States on the Verge of Military Intervention in Cuba? [https://foreignpolicy.com/2026/05/22/cuba-war-trump-united-states-castro-indictment/?utm_content=gifting&tpcc=gifting_article&gifting_article=Y3ViYS13YXItdHJ1bXAtdW5pdGVkLXN0YXRlcy1jYXN0cm8taW5kaWN0bWVudA==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Katrin Hansing: Blackouts, Food Shortages, and Water Scarcity [https://foreignpolicy.com/2026/03/24/trump-cuba-oil-embargo-venezuela-blackouts-humanitarian/?utm_content=gifting&tpcc=gifting_article&gifting_article=dHJ1bXAtY3ViYS1vaWwtZW1iYXJnby12ZW5lenVlbGEtYmxhY2tvdXRzLWh1bWFuaXRhcmlhbg==&pid=PNIhHwPfesawrtd&tpcc=fpl_pod] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]