Trump may not be a fan of clean energy but Iran war is accelerating global shift from oil and gas | Heather Stewart
Summary
Tensions between the US and Iran over the Strait of Hormuz are worsening, causing disruptions in oil supplies. This situation is speeding up global efforts to move away from oil and gas toward cleaner energy sources like wind, solar, and electric vehicles.Key Facts
- The US has imposed a blockade on Iranian oil exports, leading to conflict over the Strait of Hormuz.
- Iran’s leader threatened that foreign powers interfering in the strait have “no place there except at the bottom of its waters.”
- About 40 countries have taken emergency steps due to rising oil and gas prices, including reducing school days or limiting cooking gas.
- High oil prices hit both rich and poor countries, with poor countries facing severe energy and fertilizer cost increases.
- Clean energy options like electric vehicles and renewable power are becoming cheaper and more popular worldwide.
- Car sales for electric vehicles increased by 51% in Europe compared to the previous year due to the crisis.
- The United Arab Emirates recently left OPEC, possibly to increase fossil fuel exports before global demand declines.
- Experts say countries will try to improve energy security by rapidly building solar, wind, battery, and nuclear power capacity.
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