Iran war pushes Asian nations into energy triage as they conserve power
BANGKOK (AP) — The escalating war with Iran is pushing parts of the world into energy triage, forcing governments to choose where to cut demand or absorb costs, while prioritizing dwindling supplies. Asia is the most exposed since it relies heavily on imported fuel, much of it shipped through the now-blocked Strait of Hormuz. The narrow passage offshore from Iran is the main route for shipping a fifth of global trade in crude oil and liquified natural gas. Governments in the region are scrambling to adjust — tallying oil reserves, conserving energy, competing for supplies and trying to blunt prices. That brings difficult trade-offs: saving power may slow business activity. Prioritizing cooking gas for households can hurt restaurants and other businesses.
The Countries Most In Danger Of Running Out Of Oil
Before the war, 40 tankers carrying 20 million barrels of crude oil and refined petroleum products traversed the Strait of Hormuz every day. This week Iran has allowed just a handful of tankers to slip through Hormuz, including ships flagged to India and China. Amid oil rationing and shortages, which countries are most in danger of winning the race to empty?
Looks like the real Peak Oil fun is getting underway for all the oil importing countries. Oil exporters have a bit of an advantage here, but of course everything is so interconnected the problems won't be limited to the importers. We're on the way back to the Stone Age!
RE