Zero: The Climate Race How the Iran war will reshape the future of energy
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Apr 9, 2026 David Fickling, Bloomberg opinion columnist who tracks how energy shocks reshape markets. He traces how the Iran war jolts oil and gas prices across Asia. They discuss diesel dependence, EV and electric truck surges, LNG risks to chipmakers and fertilizer, and why countries may pivot to domestic renewables for long-term energy security.
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Australia's Diesel Addiction And Costly Rebates
- Australia consumes more diesel per capita than any country, driven by long distances, underdeveloped rail and heavy mining/agriculture use.
- David Fickling highlights diesel rebates that cost more than the army and nearly as much as public education, which disincentivize electrification.
China's Sudden Lead In Electric Heavy Trucks
- China has rapidly electrified heavy trucking so that over half of heavy-duty trucks sold in December were electric, surprising many skeptics about battery economics.
- Manufacturers repurposed construction-equipment firms to make electric trucks as domestic construction demand collapsed, creating new markets.
Fix Subsidies And Financing To Replace Diesel Vehicles
- To decarbonize transport in developing countries, address subsidy structures and financing barriers that favour OpEx-heavy diesel solutions over CapEx electrification.
- David Fickling uses the Philippines jeepney sector to show drivers resist coop models that require borrowing to buy e-vehicles.