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Hi, it's Akshad. There is now a ceasefire agreement between US, Israel and Iran for two weeks starting Tuesday.

This week's episode, which was recorded before the ceasefire announcement, looks at the long-term impacts that the war will likely have on the energy system.

Even if traffic of oil and gas ships from the state of Hormuz restarts,

the effect on energy markets and policies will play out over months and years.

Welcome to Zero. I'm Akshatrati February 28th, energy markets panicked.

But not a lot.

There was an expectation that even though Iran was attacking ships in the Persian Gulf and

had effectively stopped traffic in the Strait of Hormuz, that things will calm down

and the ships carrying 20% of the world's oil and gas will be back on the job.

Thousands of people have been killed and dozens of ships have been attacked.

When I wrote climate capitalism, which documented the solutions the world has deployed

at scale to cut emissions, the stories typically had two major pivot points.

The oil crises of the 1970s and the Paris Agreement of 2015.

If a book about climate solutions is written in 2050, I think there will be a third

pivot point, the energy crises of the 2020s. So today I want to look at the kinds of long-term

changes that happen from energy shocks.

...