A renewable-powered world would better absorb the economic shock of an Iran-Israel crisis

Tensions between the United States, Israel and Iran raise a question rarely posed in economic circles: in a world powered primarily by renewable energy, would such a crisis provoke the same global economic earthquake? Roughly 20% of global oil trade transits the Strait of Hormuz today, a strategic corridor linking Gulf states to international markets. Any threat of strait closure reverberates immediately on crude prices, then on global inflation, supply chains and household budgets.