"The International Energy Agency's energy crisis tracker now lists almost 40 countries that have taken emergency action in the face of soaring oil and gas prices, from Lao shortening the school week to three days to Nepal calling for cooking gas cylinders to be half filled."
"In developing countries, it may be catastrophic, as the costs of energy and fertiliser soar. Yet while the immediate outlook is bleak, this fossil fuel crisis is also hastening the inevitable global shift away from oil and gas and the toxic geopolitics they create."
"Fifty years on, low-cost, clean substitutes for many uses of fossil fuels are much more easily and cheaply available as Mackenzie says: About 45% of crude oil consumed worldwide is used for road transport, much of which is increasingly cheap to electrify."
Operation Epic Fury has failed to achieve Donald Trump's war objectives, yet it may inadvertently speed up the global shift towards clean energy. Tensions over the Strait of Hormuz continue, with Iran facing significant oil export challenges due to US sanctions. The International Energy Agency reports nearly 40 countries taking emergency measures in response to rising oil and gas prices. While the immediate situation is dire, this fossil fuel crisis is prompting a necessary transition away from oil and gas, similar to responses seen after the 1970s oil shocks.
Read at www.theguardian.com
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