Will the Iran war really lead to a global pivot to renewable energy?
As the Middle East conflict sends fuel costs skyrocketing and threatens to put a dent in the global economy, the argument for reducing the world's dependence on oil and gas and moving towards renewables has grown louder.
Ships have been blocked – and in some cases burning – at the Strait of Hormuz, a narrow passage near Iran through which a fifth of the world's oil and gas passes. The key supply route has been effectively closed, stopping oil, gas and other essential exports from the Gulf region and sending commodities on a rollercoaster ride.
Skyrocketing oil and gas prices are leaving many countries rationing fuel and staring at rising food prices. The International Energy Agency is calling it the largest supply disruption in the history of the global oil market.
With no sign the conflict will end imminently, bodies including the UN have called for the world to reduce its dependence on oil and gas, with renewables cited as the most obvious alternative. “The resources of the..
