Drive slower, work from home and ditch the tie: the world responds to Iran war energy crisis
Why it matters: The US is paying TotalEnergies $1bn to cancel windfarm plans, redirecting investment to oil and gas.
- The International Energy Agency (IEA), after releasing 400m barrels of oil, urges actions like flying less and driving slower, while cautioning against blanket subsidies.
- The United States, following its bombing of Iran, continues its "drill, baby, drill" policy, blocking renewable projects and paying TotalEnergies $1bn to cancel windfarms in favor of oil and gas.
- The UK encourages calm and offers financial support for home heating oil users, but rules out universal aid, aligning with the IEA's advice against broad subsidies.
- New Zealand provides weekly cash payments to 150,000 families as part of a fuel relief package, while Australia cuts fuel excise by 50% for three months and advises motorists to only buy needed fuel.
- Canada has refrained from intervening to offset rising fuel prices, contrasting with other Commonwealth nations' direct financial support.
- The European Union calls for a faster shift to renewables, yet Italy delays its coal phase-out by over a decade, and Germany considers keeping coal plants open, slowing the transition.
- Donald Trump criticized allies like the UK and France for not joining the campaign against Iran, telling them to buy from the US and then "go get your own oil" from the Gulf.
The global energy crisis, sparked by the Iran war and the closure of the Strait of Hormuz, has led to a scramble for solutions, with countries adopting diverse and often conflicting strategies ranging from rationing and subsidies to increased fossil fuel production and delayed renewable energy transitions. While the IEA advocates for demand reduction and targeted support, the US is expanding oil and gas drilling, and some EU nations are delaying coal phase-outs, highlighting a fractured international response to soaring prices and shrinking fuel stocks.
