Oil Fuels Iran‑Israel War, Closes Hormuz, Drives
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- Iran closed the Strait of Hormuz, cutting off about 20% of the world’s oil and natural‑gas shipments and halting Indian vessels.
- Israel imposed a “yellow line” in Lebanon to limit strikes, a tactical restraint amid the broader U.S.–Israel war on Iran.
- Trump administration was rebuked by a federal judge over a national‑security claim used to justify sanctions on Venezuela’s oil sector.
- Michael Klare warned that predictions of peak oil by 2025 have not materialized, as oil still powers most of the global economy and fuels geopolitical conflicts.
- Living on Earth partnered with the interview to highlight renewable energy as a pathway out of oil‑driven wars.
Why it matters: Gulf‑adjacent oil exporters gain market share as the Hormuz shutdown cuts 20% of global supply, while Indian shippers and consumers lose revenue; higher prices accelerate investment in renewables, reshaping energy geopolitics.
