Energy Importers Turn Inward After Months of Hormuz Closure, Accelerating Solar, Coal and Refinery Plans
Updated
Updated · The New York Times · Jun 8
Energy Importers Turn Inward After Months of Hormuz Closure, Accelerating Solar, Coal and Refinery Plans
3 articles · Updated · The New York Times · Jun 8
Summary
Months of disruption at the Strait of Hormuz are pushing energy-importing countries and companies to build more domestic supply, even at higher upfront cost, as imported fuel becomes riskier and pricier.
Guyana is discussing its first refinery, Indonesia is speeding up solar development, several Asian countries are burning more coal to fill gaps, and Belgium is trying to nationalize nuclear energy.
Record imports of Chinese electric cars and solar equipment into the Philippines show households are also reacting, using EVs and rooftop panels to cut exposure to surging fuel and power bills.
The shift still has limits: the global energy system remains deeply interconnected because specialization and trade are cheaper, and even the U.S. both imports crude and exports fuel.
As the Iran War reshapes global energy, which nations are best positioned to dominate the new, decentralized energy landscape?
Is the global pivot to 'me-first energy' a true path to security, or a costly illusion that ignores the efficiencies of global trade?
How is the weaponization of energy chokepoints permanently reshaping international law and the future of global alliances?
Strait of Hormuz Shutdown 2026: Energy Crisis, Economic Turmoil, and the Race for Renewables
Overview
In early 2026, joint U.S. and Israeli military strikes against Iran, including the killing of Iran’s supreme leader and other top officials, triggered a dramatic escalation. Iran responded by leveraging its strategic position to close the Strait of Hormuz, a vital global energy chokepoint. This closure, following the attacks and incidents like the deadly strike on a girls’ school, led to at least five tankers being hit and caused profound disruptions in global energy flows, supply chains, and market prices. The crisis exposed the world’s vulnerability to geopolitical shocks and highlighted the urgent need for energy diversification and resilience.