, Columnist
This Energy Embargo Has Been Going On for a Decade
Overregulation is slowing the clean-energy transition.
Ill-considered policies hampering the growth of renewables can feel consequence-free.
Source: Westend61/Getty Images
There are few things more calculated to strike fear into the world than an energy embargo.
The mere possibility of Tehran harassing shipping in the Strait of Hormuz — a narrow stretch of the Persian Gulf through which about a fifth of the world’s oil must pass — has sent commodities markets into turmoil since the US strike on Iranian nuclear facilities Saturday. President Donald Trump announced a tentative ceasefire between Iran and Israel.