The closed Strait of Hormuz is testing Asia’s energy security. The answer lies across the Pacific—in Canada

When IRGC brigadier-general Ebrahim Jabari declared the Strait of Hormuz to be closed, 150 oil and LNG tankers decided to stay put rather than risk getting fired upon. Qatar Energy and other oil and gas producers soon halted production, declaring force majeure. The effect on Asia was immediate, with LNG benchmarks jumping 39% in just one session and governments now frantically ordering staff to work-from-home to save energy.

The threat to Asia had been obvious for years. The U.S. Energy Information Administration estimated that...