The Philippines just became the first country in the world to declare a national energy emergency because of the Iran War.

They import 98% of their oil from the Gulf. Gas prices up over 100% since February 28th. The government is handing out 5,000 pesos ($83) to taxi drivers just to keep them on the road.
$83. That's the aid package for a country whose entire energy supply just got cut off by a mined strait 9,000 kilometers away.
This is the first domino. The Philippines won't be the last.