Energy in times of war
THE DISASTROUS US-Israel war against Iran has disrupted energy supply across the world. Governments in both rich and poor countries are warning their people of dire times ahead, unlike anything seen before by this generation: acute energy scarcity, rationing and even the prospect of cars and aeroplanes running out of fuel. The question is what will the future energy map look like? - SUNITA NARAIN \ EDIT As I ask this, I would request you to not make light of the assassinations, the thousands of lives lost and the senseless destruction that we witness so clearly as we scroll through our screens. Let us also not make light of the real pain that this energy disruption has brought to our world. Many countries are facing shortages of cooking fuel, including liquefied petroleum gas (LPG), and households are spending vast portions of their income to procure it at any cost. Long queues at fuel stations are becoming common—again, driving up costs that people can barely afford. In most countries, particularly in our world, fuel imports are the highest charge on trade deficits and in this scenario, rising oil prices have crippling effects on economies. Then the impending shortfall in global fertiliser supply is expected to hit farmers hard—those already reeling from extreme weather driven by climate change and distorted global food prices. All in all, the world is on its knees—not by choice, but because of its pusillanimous and pathetic response to this senseless US-Israel war on Iran. The rules-based order and all its morality lie in tatters. Let's at least be clear on this.
