The war with Iran: what does the disruption in the Strait of Hormuz mean for global energy?

The Energy Gang discusses the implications of the war with Iran on global energy markets, focusing on the critical role of the Strait of Hormuz. The potential closure of this waterway, through which 15% of the world's crude oil and 20% of its LNG passes, could trigger a global recession. Amy Myers-Jaffe highlights the increased risk from unconventional attacks, such as drones, requiring a reassessment of security strategies. Chris Aversano details the dramatic drop in daily ship traffic through the Strait, from 150-175 to approximately 10-12, and the resulting disruptions to the supply of crude oil, refined products, and essential chemicals like naphtha. The discussion also explores alternative pipeline routes and the potential for strategic stock releases to mitigate the impact, while considering the long-term effects on clean tech investments and energy security strategies.