Countries that have their own refineries and reserves, and that can afford to pay, are facing high oil and gas prices but not shortages. Other countries can't get what they need and are rationing fuel.
Experts say new exploration takes more than a decade from decision to market. Research can cost hundreds of millions of dollars, and development can take tens of billions.
The trucks and farm equipment that keep our economy moving run on diesel. That means small businesses like farms and pet supply companies have to adjust.
The head of the International Energy Agency warned that if the Strait of Hormuz doesn't reopen soon, the availability of jet fuel will continue affecting airlines and summer travel.