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Bureau: London
NYT Magazine's landmark piece reveals we need fossil fuels to build the renewables that will replace them — and the Iran war is forcing that uncomfortable truth into the open.
Zambia has moved to emergency fuel procurement and Cape Town fuel stations are reporting shortages as the Africa-wide crisis reaches its most acute phase yet.
War risk insurance premiums for Hormuz transits have reached 4-10% of vessel value — up from 0.25% before the war — making coverage a six-figure cost per voyage.