At this moment also very unclear how long the blockage of the Strait of Hormuz will continue, the water way next to #Iran though which 20% of the global oil and gas is shipped - this will be the decisive factor for prices in the medium term.
3/3
๐ 400 million barrels is about whats shipped through the Strait of Hormuz within 20 days.
โ Unclear so far over what stretch of time this oil is going to be released.
2/3
โ ๐๐ง๐ฉ๐ซ๐๐๐๐๐๐ง๐ญ๐๐: The IEA countries release a record 400million barrels of #oil after the price per barrel jumped to 119$. Its serious: Thats twice as much than was released after Russia invaded Ukraine and caused and energy crisis.
1/3
One month until the first conference on transitioning away from #fossilfuels ๐.
Some in depth overview by @sebastianrodvar.bsky.social ๐
Shared some thoughts how necessary this is & that we expect progress in two tiers: Phase out champions + countries who move slower but in the right direction.
Decision makers should also grow a backbone to uphold international law as people in the region suffer from far worse than high energy prices. You can be against the brutal regime of Iran and condemn bombing civilians - actually, if you care about human rights I dont see how you cannot.
3/3 ๐งต
In the first week alone of the war against #Iran, Europe lost about 1.4 billion Euros due to #gas price spikes - enough to build solar power for at least 500.000 households.
2/3 ๐งต
I was live on Sky News discussing #Europe โs exposure to #fossilfuel price shocks and why #renewables are the real energy #security strategy. This is not an energy crisis, it's a fossil fuel crisis.
1/3 ๐งต
Iran Red Crescent warns of toxic rain afterย US-Israeli attacks on fuel depots - https://www.middleeasteye.net/live-blog/live-blog-update/iran-red-crescent-warns-toxic-rain-after-us-israeli-attacks-fuel-depots
Excellent @carbonbrief.org summary of the new 5-year plan of #China, including analysis by @350.org:
"The plan was widely expected to mark a clearer transition from carbon-intensity targets toward absolute emissions reductionsโฆ[but instead] leaves significant ambiguity (...)"
"Semieniukโs team calculated what would have happened if the U.S. government redistributed the portion of the fossil fuel industryโs 2022 profits that exceeded its 2021 returns.
They found that the move would send $1,715 to every American household."
I discussed earlier with experts how the Strait of Hormuz disruptions will end up in favour of Russia, as its stranded oil is in demand.
www.independent.co.uk/news/world/m...
#China, the largest emitter, released its new five-year plan ๐
Spoke with @climatechangenews.com how this is insufficient progress - expanding wind & solar at record speed is a huge achievement, but China must end #fossilfuel expansion, notably #coal and reduce emissions faster
Climate Action Network (CAN) Europe stands in solidarity with the people of Iran and the wider Middle East, who are bearing the devastating human cost of escalating violence and war.
The protection of human life must be prioritised.
1/2
The #UK plans to cut its aid budget. Shameful!
Shared with @stuti.bsky.social of the @theindependent.bsky.social that the UK should instead tax the windfall profits #fossilfuel companies are making from gas price spikes linked to the war with Iran.
www.independent.co.uk/climate-chan...
Are EU gov'ts, looking to tackle soaring energy prices, again going to be subsidising the fossil fuel industry?
Update: The price of fossil #gas in the #EU is about to double now ๐คฏ .
#Fossilfuels drive the very wars that that make ordinary people pay and companies like Shell and Exxon cash in.
European gas prices have risen faster than in other regions as the gas storage in Europe is fairly low (at 30% capacity) after the winter and hence prices respond quicker to supply risks than in other regions.
Shipping through the Strait of Hormuz, the waterway for 20% of the worlds oil.
๐งต3/3
Oil prices have also risen globally (9-10%), and we can expect LNG and gas markets to jump in other regions of the world if this war keeps going on as is currently expected.
๐งต2/3
While people in #Iran suffer from #Trump war, #fossilfuel companies are going to cash in: The gas price in Europe has jumped 25% today within a day. The bills for these windfall profits will land on kitchen tables of ordinary people.
1/3 ๐งต
Chinaโs latest energy data offers a signal worth paying attention to. In 2025, emissions from energy and industry fell by 0.3%, modest, but notable, even as total energy consumption rose by 3.5%.
The key driver? A continued surge in solar power capacity.
The American bombardment of Iran has been launched without explanation, without Congress, without public support. Above all it has been launched without a coherent strategy for the Iranian people, and without a plan to let them build a legitimate Iranian state.
www.theatlantic.com/ideas/2026/0...
Updated:
โก๏ธ 53%ย of global gas production comes from countries in the US sphere of influence
โก๏ธ 52%ย of global proved gas reserves are controlled by countries in the US sphere of influence
3/3
โก๏ธ 68%ย of global production oil is controlled by countries in the US sphere of influence
โก๏ธ 81%ย of global oil reserves are controlled by countries in the US sphere of influence
2/3
350.org/press-releas...
๐ฅ As the #USA and Israel attack #Iran, itโs worth remembering: 81 % ๐จ๐ ๐ ๐ฅ๐จ๐๐๐ฅ #๐จ๐ข๐ฅ ๐ซ๐๐ฌ๐๐ซ๐ฏ๐๐ฌ ๐ง๐จ๐ฐ ๐ฌ๐ข๐ญ ๐ฐ๐ข๐ญ๐ก๐ข๐ง ๐ญ๐ก๐ ๐๐ฌ๐ฉ๐ข๐ซ๐๐ ๐ฌ๐ฉ๐ก๐๐ซ๐ ๐จ๐ ๐ข๐ง๐๐ฅ๐ฎ๐๐ง๐๐ ๐จ๐ ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ โ Geopolitical confrontation translates into price shocks for ordinary people in fossil-fuel-importing countries.
1/3
๐ด NEW ๐ด
Nigel Farage Paid ยฃ27,000 to Speak at Pro-Trump U.S. Think Tank
www.desmog.com/2026/02/26/n...
๐ @phoebecooke.bsky.social & @adambarnett.bsky.social
๐ After long back and forth between Australia and Turkey to host COP31, a split-hosting arrangement was agreed in November. The Pre-COP location now sets the tone, lets see which tone leaders strike
4/4
โก๏ธ The Pacific has consistently led on the #phaseout of #fossilfuels. Expect it to push hard to elevate the fossil fuel phase-out roadmap and ensure COP31 sharpens delivery, not just declarations.
๐งต3/4
๐๏ธ The COP31 Pre-COP will convene in Fiji in October 2026, to prepare this years UN climate conference, with a dedicated Leadersโ segment in Tuvalu, a low lying country particularly vulnerable to rising sea levels.
๐งต2/4
Itโs official: world leaders will gather in the Pacific ahead of #COP31 to witness the realities of #climate devastation on the frontlines of global warming. Spoiler alert: The articles picture of turquoise waters and palm trees isn't quite getting it.
๐งต1/4
www.abc.net.au/news/2026-02...
