Cleaning Up: Leadership in an Age of Climate Change Iran Will Reshape Oil, Gas & Clean Energy For Years To Come | Bryony Worthington & Michael Liebreich
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Mar 6, 2026 Discussion of how recent Iran-linked strikes are reshaping global oil, LNG and price risk across Asia, Europe and the Gulf. Exploration of possible supply route changes, pipelines and defensive investments to bypass chokepoints. Debate over whether short-term coal use will rise or if Asia’s electrification and clean-tech adoption will accelerate. Consideration of political fallout, energy security and investment shifts.
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Straits Of Hormuz Shocked Global Energy Prices
- The Straits of Hormuz closure immediately spiked oil and LNG prices, reflecting its role in ~19% of global oil flows and heavy LNG transit.
- WTI rose from ~$63 to just under $80 per barrel and LNG indices doubled from ~$30 to ~60 $/MWh within days.
Asia Bears The Brunt Of Supply Disruption
- Asia is the largest direct loser from Hormuz disruptions because ~75% of the oil passing there heads to Asia, with China receiving over a third.
- India and Japan follow, while Europe is less exposed on oil but vulnerable on LNG after cutting Russian supplies.
Price Shock Could Catalyse Clean Energy Leapfrogging
- High fossil-fuel import vulnerability may accelerate clean-energy adoption in poorer Asian countries unable to afford volatile LNG or oil.
- Bryony cites Bangladesh and Pakistan pivoting to large-scale solar after supply shocks as an example.