From the Strait of Hormuz to the Peace River Country: What the Iran Crisis Means for UsIf you've been watching the news, you already know global energy markets are in the middle of a major shake-up.
What's Happening in Global Energy — and What It Could Mean for Us
Dated: March 9 2026
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From the Strait of Hormuz to the Peace River Country: What the Iran Crisis Means for Us
If you've been watching the news, you already know global energy markets are in the middle of a major shake-up. Since late February, when strikes on Iranian facilities disrupted oil supply and effectively shut down traffic through the Strait of Hormuz, the world has been scrambling for stable, reliable energy — and Canada just moved to the top of a very short list.
Oil is hovering around $120 a barrel. Japan just signed a fresh LNG deal with Prime Minister Carney. South Korea is eyeing our new Kitimat export facility. India's message was blunt: "We'll take whatever you've got." Even Germany and Poland are looking to wean off Russian and Gulf supplies. All that demand traces directly back to the Peace River Country — Fort St. John included.
What This Means on the Ground Here
The Trans Mountain expansion is already moving more crude west, and LNG projects are ramping up fast. That means crews flying in, workers needing beds, and families needing homes. Supply, however, can't keep up — new build permits lag, labour is tight, and every LNG shipment out of Kitimat adds more pressure to an already stretched housing market.
Here are the numbers that matter right now:
• Rental vacancy rate: Under 1% last quarter — basically zero. Tenants are paying a premium for anything with heat and parking.
• Median home price: Around $380K — up 8% year-over-year, and that's before the next wave of investment hits.
• Job growth: Oil and gas alone added over 2,000 positions since January. Add construction, trucking, and retail, and we're looking at boomtown math.
Compare this to Toronto or Vancouver: sky-high prices, sky-high taxes, and zero energy upside. Fort St. John offers affordable entry, a massive economic tailwind, and a front-row seat to Canada's new role as a global energy lifeline. Prices here won't stay this reasonable forever — and the next wave of LNG investment is already in motion.
Whether you're looking at duplexes, townhouses, or raw land, this is the kind of market where getting in early makes a real difference.
Want fresh comps or listings? Drop me a line — I'd love to put some numbers in front of you.
John
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