Der Spiegel offered a striking analysis of the broader economic fallout: the Iran war has triggered what may be the world’s greatest fossil fuel crisis, with more oil missing from global markets than during the landmark shocks of the 1970s. Yet there is a silver lining. Renewable energy sources — solar, wind, and others — are already acting as a “small shield,” dampening the impact on the global economy in ways that would have been unthinkable even a decade ago.
It’s a critical insight: while households and industries around the world are feeling the pain of skyrocketing energy prices, the crisis would be significantly worse without the clean energy infrastructure built up over recent years.
