Iran Strikes Emphasize Critical Need to Abandon Oil Reliance

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Iran Strikes: Why Quitting Oil is More Critical Than Ever Amid Global Tensions

Representational image (Image: News18)

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News18•03-03-2026, 10:00

Iran Strikes: Why Quitting Oil is More Critical Than Ever Amid Global Tensions

•Strikes on Iran by Israel and the US have put global oil markets on edge, with prices rising due to potential disruptions.
•The Strait of Hormuz, a critical chokepoint for 20% of global oil trade, faces closure threats, impacting supply.
•Oil dependence shapes geopolitics; nations are accelerating plans to reduce reliance and boost energy security.
•Renewables offer a resilient alternative, as decentralised power generation is harder to disrupt than centralised oil infrastructure.
•Electrification of transport, like EVs, reduces exposure to volatile global oil markets and enhances national security.

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