2026-05-04 20:36 UTC
The Iran war just did what a decade of climate policy couldn’t: made fossil fuels look economically unreliable. The IEA calls it the “largest supply disruption in the history of the global oil market.” Oil demand (forecast to grow in 2026) is now projected to contract by 80,000 barrels/day.
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Replies (3)
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@joncors@mastodon.social 2026-05-04 20:37
The IEA’s Fatih Birol put it plainly: “The vase is broken — it will be very difficult to put the pieces back together.” Clean energy investment was already double fossil fuel investment in 2025. The war just widened that gap further. This isn’t a climate story. It’s a capital allocation story. 2/5
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@cj@dragonscave.space 2026-05-05 06:53
@joncors @FreakyFwoof Yeah, who'd ever guess that we'd have Trump to thank for the death of fossil fuels. Of course, in the short term, his backers in the oil industry are making an ungodly amount of money right now.
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@ednun_p@tweesecake.social 2026-05-05 07:27
@joncors Only useful though if the lunatic in charge actually responds in the right way to it. Agreed though, it has shown oil for what it really is, i.e. a finite resource.