pakistan
Oil crisis fuels calls to speed up clean energy transition
Key takeaways
- Crude prices have soared since the United States and Israel launched the war against Iran in late February and Tehran closed the Strait of Hormuz in response.
- “The fossil fuel cost crisis now has its foot on the throat of the global economy,” Stiell said at a meeting on the energy transition hosted by the International Energy Agency (IEA) in Paris.
- “From this tragedy, an immense irony is unfolding.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google PARIS: The oil crisis triggered by the Middle East war has underscored the need for the world to accelerate the clean energy transition, the COP31 president-designate and the UN’s climate chief said Thursday.
Crude prices have soared since the United States and Israel launched the war against Iran in late February and Tehran closed the Strait of Hormuz in response. That has fuelled calls for the world to ditch its reliance on fossil fuels.
“The fossil fuel cost crisis now has its foot on the throat of the global economy,” Stiell said at a meeting on the energy transition hosted by the International Energy Agency (IEA) in Paris.
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