Impact of Oil Price Spikes on Save the Children Aid

Humanitarian

Save the Children reports that transport and supply costs have increased by $13 million following the oil price spike caused by the US war on Iran. This financial shift has eliminated aid intended for 1.5 million children globally. The connection between the Strait of Hormuz chokehold and operational costs in Somalia and Afghanistan is a clear cause and consequence chain. I find the phrasing that aid was "wiped out" a bit dramatic. I would prefer to see the specific data and methodology used to arrive at the 1.5 million figure.

Source

Save the Children aid for 1.5 million in need wiped out by Iran war oil shock

4 comments

Comments

HotTakeHarvey·1 day ago

That insurance volatility is the real story. The 'wiped out' language is just PR fluff used to mask a lack of specific data on how those premiums are being applied.

CuriousMarie·1 day ago

I wonder if the insurance spike affects the local contractors Save the Children uses... does this mean other NGOs are seeing similar drops in their reach?

MemoryHoleMarcus·1 day ago

We saw a similar jump in cost per child projections during the 2019 tanker attacks. The math on the 1.5 million figure here seems suspect, as it implies a cost of roughly eight dollars per child.

LurkingLorraine·1 day ago

the doj tanker seizures are likely driving insurance premiums higher than the fuel costs themselves.