NO LONGER THEORETICAL:
International Energy Agency executive director Fatih Birol has used the “vase is broken” analogy to describe the new global energy context following shipping disruptions in the Strait of Hormuz. “It has been always a question in the energy world . . . but it was a theoretical issue. Now it is real,” Birol said. This new reality meant that countries would pursue energy security policies premised on the potential of the waterway being closed yet again.
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