Bible Prophecy, Signs of the Times and Gog and Magog Updates with Articles in the News
Shortages And Rationing Loom As Global Oil Reserves Fall Dramatically
No matter what happens now, the world is facing a very painful energy crisis. Let’s be as wildly optimistic as we possibly can and assume that Iran agrees to allow free passage through the Strait of Hormuz with absolutely no tolls or restrictions starting tomorrow.
Before normal traffic through the Strait could resume, Iran would first have to remove all of the mines that they have laid in the Strait, and that could take months. Once all of the mines have been removed, it will take the tankers that are currently trapped in the Persian Gulf weeks to arrive at their destinations.
Moving forward, Persian Gulf countries will be exporting much less oil and natural gas for the foreseeable future because of all the oil and natural gas infrastructure that was damaged or destroyed during the war. It will take years before all of that infrastructure is fully repaired and rebuilt. Meanwhile, global supplies of oil and natural gas will be very tight for an extended period of time.
What I have just laid out for you is the best case scenario.
Ultimately, what we end up facing could be so much worse.
Over the past couple of months, global oil reserves have been falling at the fastest rate ever recorded…
Record inventory draw: Global oil stocks have fallen by 246 million barrels in March-April, with draws in May hitting a record 8.7 million barrels per day.
Hormuz closure impact: The Strait of Hormuz shutdown has cut off 25% of the world’s seaborne oil, compounding already low reserves and boosting prices.
US price outlook: Analysts expect U.S. gasoline prices could reach $5 this summer (many states are already there) unless flows resume, with relief unlikely before autumn.
Needless to say, this is not sustainable.
Here in the United States, the strategic petroleum reserve has been dropping at a record-breaking pace…
The SPR’s most recent drawdown, covering the week ended May 22, shows a drop of 9.1 million barrels, leaving the reserves at 365 million barrels. The previous weekly drawdown, covering the week of May 15, was its steepest on record — the U.S. withdrew 9.92 million barrels from the SPR then.
Before that record-breaking decline, the largest weekly drop in the SPR’s history occurred in the week ended Oct. 7, 2022, when the reserves dropped by 7.41 million barrels, and was connected to the war in Ukraine.
Commercial oil inventories are being rapidly depleted as well.
At some point the tanks are going to hit minimum operating levels and we are going to have an enormous crisis on our hands.
The chief economist at Capital Economics is projecting that commercial oil inventories “could reach critically low levels by the end of June”…
“At the current pace of drawdown, commercial oil stocks could reach critically low levels by the end of June,” Neil Shearing, chief economist at Capital Economics, wrote in a research note on May 18.
If supply conditions don’t improve soon, “prices could rise sharply,” Shearing warned.
Jeff Currie is warning that Asia is already very close to minimum operating levels, and he is projecting that the U.S. could potentially be dealing with shortages in July…
Oil markets are nearing minimum operating levels in Asia, with Europe likely next and the U.S. potentially facing shortages by July, said veteran market strategist Jeff Currie on Monday, underscoring the global energy shock due to the Iran war.
Headline global inventory figures can be misleading as much of the oil stored worldwide cannot be used immediately, said Currie, Carlyle’s chief strategy officer of energy pathways and co-chairman of Abaxx Markets.
A large portion of that oil is needed to keep pipelines and storage systems running safely, leaving only a smaller share available for the market. Asia is already close to these so-called “minimum operating levels,” Currie told CNBC on the sidelines of the UBS Wealth Conference in Singapore.
This is really happening.
The Australian government is so concerned about what is ahead that they have already prepared a plan to limit the amount of fuel each vehicle can purchase per day when that becomes necessary…
Contained in documents obtained by Guardian Australian under freedom of information, one option the government had at its disposal to arrest a local fuel supply shortage would be to impose a “maximum transaction value per vehicle per day” – a rationing rule which would limit how much fuel a single vehicle can buy at a service station over a 24-hour period.
If the Strait of Hormuz does not get reopened, we could eventually see similar measures get implemented all over the world.
Of course rationing of motor oil has already started…
Nissan is rationing 5W-30 and 0W-20 Nissan Genuine Motor Oils. Starting this week, Nissan’s stock of these oils has dropped by 30% year-on-year. With only 70% left in the tank, the brand is already taking precautions, sending memos to dealers to manage its stock during the shortage.
The brand will prioritize certain owners, such as those claiming “warranty, extended warranty, recall repairs, goodwill, and prepaid maintenance,” according to Kim Less, the vice president of aftersales at Nissan Americas, in the bulletin addressed to Nissan dealers.
“Given these constraints, it is critical to prioritize the use of Nissan Genuine 0W-20 (and 5W-30, where applicable) for warranty, extended warranty, recall repairs, goodwill, and prepaid maintenance,” Kim Less, vice president of aftersales, Nissan Americas, said in the May 15 bulletin to Nissan dealers.
I would encourage my readers to stock up on motor oil while they still can.
Supplies are only going to get tighter from this point forward.
The pharmaceutical industry is also very dependent on raw materials from the Middle East, and one pharmacist is claiming that the current drug shortage is the “worst I’ve ever known”…
Some people living with heart conditions, stroke risks, eye infections and bipolar disorder are among those unable to get the medications they rely on, a pharmacist has said.
Graham Jones, who owns Shrivenham Pharmacy in Oxfordshire, said vital medication like aspirin was harder to obtain because of surging global prices and government funding which was not keeping up with costs.
Jones said the current medication shortage was the “worst I’ve ever known”.
Personally, I am even more concerned about the global fertilizer shortage.
The UN is telling us that we could be facing a worldwide food crisis that could last for “years”…
The de facto closure of the Strait of Hormuz risks a global food crisis that could extend for years, the UN warned.
Global fertilizer companies have slashed production over shortfalls of sulphur, required to make many farming inputs; about half of the global supply passed through the strait before the Iran war.
As a result, farmers are likely to produce lower yields in coming harvests. Richer economies like those in Europe are mulling building fertilizer stockpiles, reducing duties on imports, and onshoring production, but poorer ones have limited room to adapt.
I want to be very clear about what lies in front of us.
No matter what happens now, there will be shortages and rationing.
It is just a matter of how intense they will be and how long they will last.
Needless to say, the outlook for the global economy in the months ahead is not promising at all.
We really do have a major crisis on our hands, and it will become a historic nightmare if the Strait of Hormuz does not get reopened soon.
Literally Eating Scripture – Prophetic Ministry Overreach?
There is no shortage of strange stories emerging from modern charismatic circles, but every so often one comes along that forces Christians to ask a difficult question: At what point does a prophetic act stop being biblical symbolism and become theological confusion?
That question is now being asked after a prophetic conference in West Virginia where longtime minister Kevin Leal instructed an 18-year-old young man to literally tear a page from the Book of Proverbs, chew it, and swallow it. The act followed a series of prophecies declaring that the teenager, Ethan Soucy, would become a wealthy “kingdom businessman” and future millionaire who would fund ministries around the world.
According to reports, Leal told the young man that after eating the page, “the power of God is going to go inside of you.”
The scene immediately generated criticism from Christians across multiple denominations, and for good reason.
While defenders of the event point to biblical examples where prophets were instructed to eat scrolls, a closer examination reveals that what happened on that stage bears little resemblance to what Scripture actually teaches.
The Scrolls Of Ezekiel And John
Supporters often cite the experiences of the prophet Ezekiel and the Apostle John.
In Ezekiel 3, God commanded Ezekiel to eat a scroll before delivering His message to Israel. Likewise, in Revelation 10, John was instructed to eat a scroll that was sweet in his mouth but bitter in his stomach.
These passages were never intended to establish a ritual for receiving divine power.
The symbolism was clear. God’s Word was being internalized. The prophet was receiving and absorbing God’s message before proclaiming it to others.
Neither Ezekiel nor John was told that supernatural power would enter their bodies through the physical consumption of paper.
Neither passage involved promises of financial prosperity.
Neither passage suggested that wisdom could be obtained by literally swallowing parchment.
The Bible consistently teaches that wisdom comes through fearing God, studying His Word, obeying His commands, and being led by the Holy Spirit–not through symbolic rituals performed as if they possess power in themselves.
“The Power Of God Will Go Inside You”
Perhaps the most troubling statement from the event was not the eating itself but the explanation given for it.
“When you eat this, the power of God is going to go inside of you.”
That statement introduces a concept foreign to biblical Christianity.
The New Testament teaches that believers receive the Holy Spirit through faith in Jesus Christ. God’s power is not transmitted through objects, paper, rituals, or ceremonial acts.
This begins to resemble a form of spiritual superstition–treating a physical object as though it possesses inherent spiritual power.
Throughout church history, Christians have repeatedly battled similar errors.
Whether relics, charms, blessed objects, magical formulas, or mystical rituals, the temptation has always been the same: replacing faith in Christ with confidence in a physical act.
The Apostle Paul warned against such thinking repeatedly. God’s power is not manipulated through ceremonies. It is received through God’s grace and operates according to His will.
The Prosperity Problem
The second major concern is the context surrounding the event.
This was not merely a discussion about wisdom.
The entire prophetic exercise was centered around predictions of future wealth.
Repeated declarations of becoming a millionaire were made over the young man. Businessmen proclaimed not just millions, but “millions and millions.” The young man himself was encouraged to pray for God to make him wealthy so he could support the Kingdom.
While Christians should celebrate generosity and faithful stewardship, Scripture repeatedly warns against making wealth a central focus of spiritual life.
Jesus spoke more warnings about riches than many modern prosperity preachers seem willing to acknowledge.
The Apostle Paul warned that those who desire to be rich fall into temptation and many harmful desires. He did not say wealth itself was evil, but he certainly did not present becoming a millionaire as a primary spiritual goal.
One cannot help but wonder how many young Christians leave such meetings believing God’s favor is measured by future bank account balances.
That is a dangerous message.
Testing The Spirits
The Bible does not tell believers to reject every prophetic claim automatically.
At the same time, it does not tell believers to accept every prophetic claim automatically either.
Instead, Scripture commands Christians to test everything.
The Bereans were praised because they examined teachings carefully against God’s Word. Paul instructed believers to test prophecies. John warned Christians to test the spirits because many false teachers had gone out into the world.
That remains sound advice today.
The issue is not whether God can use symbolism.
The issue is whether the symbolism aligns with Scripture.
The issue is not whether God blesses people financially.
The issue is whether wealth has become the centerpiece of the message.
The issue is not whether someone claims a prophetic gift.
The issue is whether that gift is operating within biblical boundaries.
Discernment Is Needed More Than Ever
Modern Christianity desperately needs discernment.
Not cynicism. Not mockery. Not hostility toward the supernatural.
Discernment.
The Bible is filled with miracles, visions, prophetic actions, and extraordinary encounters with God. Christians should never apologize for believing that God still works powerfully today.
But biblical Christianity is also rooted in truth.
When symbolic acts begin to resemble superstition, when prophecy becomes focused on wealth, and when physical rituals are presented as conduits of divine power, alarm bells should begin ringing.
God’s Word is meant to be consumed spiritually through study, meditation, and obedience–not swallowed physically in hopes that wisdom or power will somehow transfer into the body.
The teenager involved may have had sincere motives. Many in attendance may have sincerely desired to honor God.
But sincerity alone is not enough.
Every movement, every prophecy, and every spiritual claim must ultimately be measured against the one standard that never changes: the Word of God itself.