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The war in Iran has accelerated a number of renewable‑energy projects around the world, but it has also prompted many governments to double‑down on fossil fuels in an effort to secure immediate energy supplies. Since the conflict began, more than 40 countries have launched or sped up wind, solar, electric‑vehicle and battery‑storage projects. South Korea announced a plan to invest about $747 billion to build at least 100 GW of wind and solar capacity by 2030. Britain and the Philippines reported a surge in rooftop solar installations, Thailand introduced a policy requiring data centres to source at least 60 % of their electricity from clean energy, and Vietnam accelerated the deployment of battery‑storage systems. In Europe, Australia and India, demand for electric vehicles has risen sharply. At the same time, the disruption of the Middle East’s oil and gas trade has led many countries to increase coal use, the dirtiest fossil fuel. Nations with abundant oil and gas have invested heavily in infrastructure and new trade routes to maintain supply, while governments have spent billions to shield consumers from higher energy costs without reducing demand. The 31st United Nations climate conference (COP 31) will be held in Antalya, Turkey, where diplomats from nearly 200 countries will discuss whether the pledges made in 2023 to abandon fossil fuels can survive the current geopolitical climate. “The world will become a low‑carbon, no‑carbon economy over a period of time,” said former U.S. climate envoy John Kerry. “The question is whether it will make that transition in time to avoid the worst consequences of the crisis.” Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, told a Riyadh audience that the kingdom is determined to keep oil flowing despite the war. He announced plans to expand a pipeline to carry 10 million barrels of crude per day and to invest in overseas storage and offshore fields. Prince Abdulaziz dismissed the idea that the war would accelerate the energy transition, calling net‑zero goals a “religion” and an “obsession.” Other Gulf executives echoed his confidence that the war has shown the world the folly of trying to wean itself off fossil fuels. Sheikh Nawaf S. Al‑Sabah, deputy chair and CEO of Kuwait Petroleum Corp, said the oil industry is “bending toward increasing demand.” The International Energy Agency (IEA) had previously suggested that oil, gas and coal use could begin to decline in the 2030s as nations pursued emissions‑cutting targets. In its 2024 World Energy Outlook, the IEA revised that view, presenting a scenario in which oil and gas demand rises steadily through 2050 and coal consumption increases by 1.2 % from 2025 to a record high. The Organization of the Petroleum Exporting Countries (OPEC) also projected robust growth in global demand, noting that governments are prioritizing energy security and affordability alongside climate goals. OPEC forecasts oil demand at 113.3 million barrels per day in 2030, up from 105.1 million barrels in 2023. Despite the shift toward fossil fuels, the war has spurred many governments to adopt policies aimed at permanently curbing oil consumption. According to Rystad Energy, about 60 nations have enacted such policies since February, with roughly half focusing on electrification. A policy tracker by Ember and E3G documented accelerations in dozens of capitals, driven more by vulnerability than by climate targets. The IEA noted that “intensified energy security concerns” are driving faster deployment of renewable power, especially in India, Southeast Asia, Africa and the Middle East. Over the next five years, the agency estimates global renewable capacity will grow by almost 4,800 GW, roughly equal to today’s global fossil‑fuel and nuclear capacity. The war has also accelerated the adoption of electric vehicles. Even before the Strait of Hormuz was closed, battery‑powered cars had begun to undercut diesel and gasoline alternatives in emerging economies. When fuel prices spiked, consumers shifted to electric vehicles. “The war has effectively shown a much deeper reason to accelerate the energy transition than just the moral obligation to do something,” said Daan Walter, principal energy strategist at Ember. Article source: San Juan Daily Star | Image credit: San Juan Daily Star
The war in Iran has accelerated a number of renewable‑energy projects around the world, but it has also prompted many governments to double‑down on fossil fuels in an effort to secure immediate energy supplies. Since the conflict began, more than 40 countries have launched or sped up wind, solar, electric‑vehicle and battery‑storage projects. South Korea announced a plan to invest about $747 billion to build at least 100 GW of wind and solar capacity by 2030. Britain and the Philippines reported a surge in rooftop solar installations, Thailand introduced a policy requiring data centres to source at least 60 % of their electricity from clean energy, and Vietnam accelerated the deployment of battery‑storage systems. In Europe, Australia and India, demand for electric vehicles has risen sharply. At the same time, the disruption of the Middle East’s oil and gas trade has led many countries to increase coal use, the dirtiest fossil fuel. Nations with abundant oil and gas have invested heavily in infrastructure and new trade routes to maintain supply, while governments have spent billions to shield consumers from higher energy costs without reducing demand. The 31st United Nations climate conference (COP 31) will be held in Antalya, Turkey, where diplomats from nearly 200 countries will discuss whether the pledges made in 2023 to abandon fossil fuels can survive the current geopolitical climate. “The world will become a low‑carbon, no‑carbon economy over a period of time,” said former U.S. climate envoy John Kerry. “The question is whether it will make that transition in time to avoid the worst consequences of the crisis.” Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, told a Riyadh audience that the kingdom is determined to keep oil flowing despite the war. He announced plans to expand a pipeline to carry 10 million barrels of crude per day and to invest in overseas storage and offshore fields. Prince Abdulaziz dismissed the idea that the war would accelerate the energy transition, calling net‑zero goals a “religion” and an “obsession.” Other Gulf executives echoed his confidence that the war has shown the world the folly of trying to wean itself off fossil fuels. Sheikh Nawaf S. Al‑Sabah, deputy chair and CEO of Kuwait Petroleum Corp, said the oil industry is “bending toward increasing demand.” The International Energy Agency (IEA) had previously suggested that oil, gas and coal use could begin to decline in the 2030s as nations pursued emissions‑cutting targets. In its 2024 World Energy Outlook, the IEA revised that view, presenting a scenario in which oil and gas demand rises steadily through 2050 and coal consumption increases by 1.2 % from 2025 to a record high. The Organization of the Petroleum Exporting Countries (OPEC) also projected robust growth in global demand, noting that governments are prioritizing energy security and affordability alongside climate goals. OPEC forecasts oil demand at 113.3 million barrels per day in 2030, up from 105.1 million barrels in 2023. Despite the shift toward fossil fuels, the war has spurred many governments to adopt policies aimed at permanently curbing oil consumption. According to Rystad Energy, about 60 nations have enacted such policies since February, with roughly half focusing on electrification. A policy tracker by Ember and E3G documented accelerations in dozens of capitals, driven more by vulnerability than by climate targets. The IEA noted that “intensified energy security concerns” are driving faster deployment of renewable power, especially in India, Southeast Asia, Africa and the Middle East. Over the next five years, the agency estimates global renewable capacity will grow by almost 4,800 GW, roughly equal to today’s global fossil‑fuel and nuclear capacity. The war has also accelerated the adoption of electric vehicles. Even before the Strait of Hormuz was closed, battery‑powered cars had begun to undercut diesel and gasoline alternatives in emerging economies. When fuel prices spiked, consumers shifted to electric vehicles. “The war has effectively shown a much deeper reason to accelerate the energy transition than just the moral obligation to do something,” said Daan Walter, principal energy strategist at Ember.
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