Energy Security, Not Climate Goals, Is Now Driving the Clean Power Boom
Iraq Is Keeping Its Syria Oil Route—Even If Hormuz Reopens Compliance markets are expanding rapidly… Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… While ships are beginning to trickle through the Strait of Hormuz after months of near-total closure, it will be a very long time before the effects of this year’s energy crisis fade from the global economy – if they ever do.
This latest round of turmoil in global oil and gas markets has catalyzed clean energy adoption to a degree that may permanently alter the global energy landscape, as well as the way that we conceive of energy security and geopolitical strategy.
It is extremely telling that, against the backdrop of the United States and Israel’s war in Iran, demand for solar energy, electric vehicles, and battery-powered energy systems and storage have skyrocketedin the United Statesandabroad.
In the past, energy insecurities have driven a return to fossil fuels as the stalwart, round-the-clock energy sources that we felt we could best depend on.
But with three energy crises in four years, global leaders are starting to get wise and change their strategy.
This year’s rush for renewable energy infrastructure in the face of market volatility therefore marks a historic sea change in geopolitics and a tipping point for the global energy transition.
“This moment demands attention,” Time Magazinereportedthis week.
and globally, interest in clean energy is accelerating faster than at any point in history, and not necessarily because of anything the clean energy movement achieved on its own.
Understanding why is critical.” SetOilPrice.comas a preferred source in Googlehere.
This is because the selling point for clean energy is no longer based on sustainability and climate change, which are politically charged goals that wax and wane between leadership administrations.
Instead, clean energy increasingly represents energy independence and autonomy, assets which have become increasingly indispensable as global conflict ticks up anda new era of nationalism and protectionism takes hold around the globe.
In this context, clean energy no longer represents a costly and risky experiment, but a necessity for energy security and resilience to supply chain shocks like the one ongoing in the Strait of Hormuz.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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