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A system built on renewables introduces new risks, as critical bottlenecks shift to refining, processing, and mineral-supply chains.
The global energy transition was once defined by energy security, affordability, and environmental sustainability. But a new era of geopolitical conflict has reshaped the energy trilemma, with national security the overriding priority.
Iran’s wider goal is to raise global energy prices, including those for Gulf oil-dependent Southeast Asian countries like the Philippines and Vietnam.
If the current war creates a prolonged oil crisis, there will be more downward pressure on oil use – and an equal acceleration in China of electric car production at home, with an associated surge in exports.
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