Coal is back and nuclear is next: The Iran war is rewiring Asia’s energy future

The effective closure from the Iran war of the Strait of Hormuz—the critical chokepoint for roughly 20% of the world’s oil and liquefied natural gas—is in its fifth week with no clear signs of resolving. For Asia, which buys more than 80% of the crude and LNG that flows through the narrow waterway, the consequences have been swift: severe fuel shortages, export bans, and government budgets stretched to the breaking point.

The crisis is forcing Asia to look both backward and forward simultaneously.