In this episode of News Navigators, Jeremy Deacon and Jonathan Starling start with the Iran war and what it could mean for Bermuda.
Jonathan argues the conflict is an illegal “war of choice” that undermines international law and future diplomacy, while Jeremy agrees on the illegality but pushes back on whether the nature of Iran’s regime matters.
They then move from geopolitics to pocketbook impact: longer fighting in the Middle East could drive up oil and natural gas prices, disrupt key shipping routes (including the Strait of Hormuz and Red Sea risks), and push up the cost of importing goods into Bermuda.
The hosts warn that higher fuel costs would likely raise the Belco bill, increase grocery and commodity prices, and squeeze households—especially working people.
They also discuss knock-on effects for tourism: more expensive flights and cruises, plus less disposable income in source markets like the US, Canada, the UK, and Europe, could mean fewer visitors.
They speculate about elevated security and cyber-risk in a wider conflict environment, and note Bermuda’s vulnerability as a “price taker,” arguing for more energy resilience, local food production where possible, and diversified import routes.
Next, they unpack the AllShores decision to restrict where certain high-cost prescriptions can be filled—directing clients to Phoenix pharmacies for medicines such as GLP-1 treatments (e.g., Ozempic/Mounjaro/Wegovy), biologics, and oncology therapies.
They outline AllShore’s justification that these drugs drive a large share of costs despite a small share of prescriptions, but highlight concerns raised by independent pharmacies and doctors about patient choice, medication safety, administrative burden, and the risk of further market concentration.
They also point to Bermuda’s lack of modern antitrust/competition legislation as a recurring issue.
Finally, they tee up the OBA’s budget reply and whether it can win an election and believe that although it has some good points, it is in the shadow of a sweetheart, stimulus budget delivered by the Government.
