When Oil Prices Surge, Regions Cannot Afford to Stand Still
As tensions in the Middle East raise concerns about disruptions to global oil supply, including risks around the Strait of Hormuz, and as governments gather in Colombia for the first international conference on a just transition away from fossil fuels, a familiar reflex is re-emerging: in uncertain times, double down on fossil fuels. For many subnational governments, that instinct is not just outdated - it is also very risky.