Waiting to transition to renewables is a losing game for companies
Even as the Iran war de-escalates, the era of permanent energy shocks is here to stay
Add BT as a preferred source
THE Iran war hit Asia disproportionately hard, compared with other regions in the world. That’s because Asia buys around 60 per cent of its oil from the Middle East, according to the Asian Development Bank.
The supply and price shock did not stop at oil.
Asian prices of liquefied natural gas (LNG), long treated as the region’s bridge fuel – an energy source that supports the transition to renewables – jumped 97 per cent in the first week, LSEG data showed.
