High gas prices are just the beginning: How the Iran war is changing the global energy map
The ongoing U.S.-Israel war with Iran has led to significant disruptions in global energy supplies, with 20% of oil and LNG flows halted at the Strait of Hormuz. This crisis is reshaping the geopolitical energy landscape, with the U.S. emerging as a dominant energy superpower. While renewable energy sources are gaining traction, coal usage is also increasing in several countries as a short-term solution to energy needs.
- ▪The U.S. has transformed from an energy importer to a global leader in energy supplies since the shale boom.
- ▪20% of the world's oil and LNG flows have been cut off at the Strait of Hormuz due to the conflict.
- ▪Coal usage is rising in countries like India and South Korea, despite environmental concerns.
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The U.S.-Israel war with Iran has caused the largest global energy-supply shock ever: Some 20% of the world’s oil and liquefied natural gas (LNG) flows have been cut off at the Strait of Hormuz.Recommended Video From gas rationing in Bangladesh, to farmers in Africa without fertilizer, to Americans struggling to afford filling their gas tanks, the supply-chain bottleneck is affecting every part of the world. But while an end to the current crisis is inevitable, its ripple effects will be shaking up the geopolitical and energy landscape long after it’s over. One thing is not going to change: global energy usage. Power demand is rising by close to 4% a year, driven by growing populations, more electrification, and the AI data center boom.
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