CleanTechnica•about 1 month ago
Echoes From The Past: What The “Twin Oil Crises” From The 1970s Teach Us About The Coming Impacts Of Hormuz’s Blockade.
- •A geopolitical conflict (US-Iran, starting Feb 28th) has led to the closure of the Strait of Hormuz, two months into the crisis, drawing parallels to the 1970s 'Twin Oil Crises'.
- •The historical context suggests severe disruptions to global energy markets, implying significant oil price spikes and cascading effects on natural gas and electricity prices, directly impacting project economics for developers and operational costs for large power consumers.
- •Lessons from the 1970s indicate a strong likelihood of accelerated policy and regulatory changes aimed at energy independence, diversification, and enhanced support for domestic, secure energy sources.
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