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Opinion / #gas
政策和金融
War and climate
The closure of the Strait of Hormuz showed how quickly a regional conflict can throw global energy markets into chaos. By pushing governments toward coal and biofuels, the war could accelerate deforestation and undermine climate negotiations, with environmental consequences that will linger long after the fighting ends.
Consumption demand, which has long powered America’s formidable economy, rests on the promise of cheap energy. But the Trump administration has conflated that with fossil fuels, confusing historic correlation with causation and, in the process, jeopardizing long-term prosperity.
The war in the Gulf has unleashed powerful market forces that the rest of the world can harness to accelerate electrification and keep the Paris climate agreement's primary objectives on track. Doing so will not only mitigate climate change, but also strengthen economic resilience worldwide.
If the war in Iran does not end soon, the Malaysian government must have more arrows in its energy policy quiver.
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