Geopolitical tensions stemming from the US-Israel conflict with Iran have sent shockwaves through global energy markets, prompting a renewed reliance on coal. Nations worldwide are increasingly adopting this high-emission fuel source as a strategic measure to mitigate potential shipping interruptions in the critical Strait of Hormuz.
According to projections from the International Energy Agency, global demand for coal is expected to climb by 1.2% this year, reaching an unprecedented 8.94 billion tonnes. This shift highlights the extent to which energy security concerns are overriding environmental considerations in the current climate.
Eight point nine billion tonnes is staggering. I wonder if these nations will pull back once the geopolitical tensions ease?
The Strait of Hormuz is vital for oil, so pivoting to coal for energy security actually makes strategic sense right now.
Going back to coal just feels like throwing our climate goals out the window. Short-term safety over long-term survival?