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Opinion / #gas
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.
The Iran war has reminded everyone, but especially Africans, of the structural instability of fossil-fuel prices. For African trustees, directors, asset managers, and other fiduciaries, the question is not whether capital should reposition, but whether institutions will act before events compel them to do so.
While tensions around the Strait of Hormuz are rattling global oil markets, energy security is no longer defined solely by access to fossil fuels. What China has understood, and Europe has not, is that security now depends on electricity systems that can deliver low-cost power at scale and support heavy industry.
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