Why The Iran War Is Speeding The End Of The Fossil Fuel Era

Episode 352 Notwithstanding President Trump’s efforts to slow the growth of renewable energy, the US/Israeli attack on Iran has given the green revolution a huge boost. In response to the war in Iran, the Islamic Republic has stopped almost all traffic in the Strait of Hormuz, a waterway through which one-fifth of global oil and one-fifth of seaborne gas supplies pass. They’ve also struck oil and gas fields with drones and missiles. This has given countries a much-needed wake-up call, showing just how precarious it is to rely so heavily on foreign states for energy security. As the cost of oil jumps from $70 to more than $100 a barrel, many countries are looking to produce more energy closer to home, accelerating plans to transition to clean and renewable energy. Rowan Hooper and Alec Luhn discuss whether this is the beginning of the end for fossil fuels. Also hear from Pavel Molchanov from Raymond James & Associates and Sam Butler-Sloss from Ember. Chapters (00:00) Intro - War in Iran speeds up the clean energy transition (00:59) A precedent set by the Ukraine/Russia war (02:27) Asia’s wake-up call (03:20) Are smaller countries pivoting to renewables already? (04:24) An energy security issue (07:16) Why oil is being impacted more than gas (08:56) Could China win big from this? (14:17) The impact on nuclear energy (15:57) When will countries give up fossil fuels for good? (18:05) The political will is shifting To read more about these stories, visit https://www.newscientist.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices