Countries worldwide shift energy use as Iran war disrupts oil and gas
Updated
Updated · TPM · May 6
Countries worldwide shift energy use as Iran war disrupts oil and gas
13 articles · Updated · TPM · May 6
With the Strait of Hormuz blocked since early March, 25 countries report critical fuel shortages and EV sales have jumped over 50% in France and Germany.
Asian governments are reviving coal plants and rationing fuel, while solar imports from China hit records, South Korea fast-tracks 100GW of renewables, and Belgium halts nuclear reactor closures.
The crisis, triggered by attacks damaging Qatar's gas infrastructure, is undermining confidence in oil and LNG, though coal may gain longer-term ground as countries balance energy security and climate goals.
Will the short-term return to coal sabotage the long-term benefits of this accelerated energy shift?
Beyond oil, who are the new winners and losers in the global race for energy dominance?
Can the clean energy transition outpace the colossal power demands of the artificial intelligence boom?
The 2026 Strait of Hormuz Blockade: A Catalyst for Global Energy Shock and Geopolitical Realignment
Overview
In early 2026, Iran closed the Strait of Hormuz in retaliation for US-Israeli airstrikes, disrupting 16-20% of global oil and LNG shipments. This caused oil prices to surge by over $30 per barrel and triggered a rapid depletion of global stockpiles and strategic reserves. The disruption led to severe economic impacts worldwide, including slower global growth, inflation-driven recessions in Europe, and fuel rationing across Asia. In response, renewable energy adoption accelerated, with China dominating solar exports and Europe boosting wind power. Geopolitically, the crisis strained transatlantic relations, benefited Russia, and pressured Gulf states to enhance security. The event is reshaping global energy strategies, pushing nations toward energy independence amid ongoing uncertainty.