Once Again, Energy Is Power
Energy has reemerged as a central force shaping the world, with countries using it as a geopolitical weapon and economic fault line. The return of energy as a central instrument of geopolitical competition is a broader shift, with more actors, tools, and parts of the energy system involved than ever before.
Energy is back as a central force in global affairs. Iran has disrupted oil traffic through the Strait of Hormuz, sending prices higher. The US has interdicted Venezuelan oil shipments, while China has restricted rare earth exports. Energy is the foundation of modern life and a key determinant of technological leadership. The 2022 energy crisis marked a turning point, exposing the fragility of energy systems. Secure access to energy must be protected and nurtured.
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