The continued closure of the Strait of Hormuz has thrown countries around the world into disarray. Here, gas car drivers are paying an average of $4 a gallon at the pump, putting additional financial strain on working family wallets. In Asia, countries that are heavily reliant on LNG imports, like India, the Philippines, and South Korea, are turning to coal to keep the lights on. It’s a pivot that’s exacerbating what is already poor air quality in many areas, and delaying the clean energy transition needed to build stability.
At the same time, we’re seeing several countries where residents have been largely insulated from the war’s energy impacts. Consider Spain, which invested heavily in wind and solar after last year’s devastating blackout. They’ve reported some of the lowest energy costs for residents since the war started. There’s also Pakistan, which bolstered solar deployment after Russia’s invasion of Ukraine and has largely deprioritized LNG in their energy mix. Their power sector has been safe from the worst impacts of the war so far.