The Iran war is accelerating the EV transition faster than any climate policy ev

When the U.S. launched strikes on Iran in late February, the immediate concern was oil prices. The Strait of Hormuz—through which roughly 20% of global oil supply flows—closed, sending energy markets into a spiral and gas prices past $4 a gallon in the U.S. within weeks. Domestically and abroad, people felt the oil supply at the pump: Moody's estimated it would cost Americans over $100 billion at the pump; gas rationing began in Bangladesh, South Korea imposed a fuel price cap, and so on. That gas scarcity might have sounded like what you've heard of the 1970s, but it's resulted in a historic surge into electric vehicles that is still essentially a trickle.

For the first time in history, more than a quarter of all car sales were EVs, Goldman Sachs commodities team wrote in a recent research report. In the grand scheme, the number is pretty paltry, especially considering the early iteration of the Prius was first released nearly three decades ago, and Teslas and other higher-end EVs first came out nearly 15 years ago. But still, the report finds a 3.4 percentage point increase on global EV sales since the Hormuz shock began, reaching 26.1% of all car sales in May, an all-time high.

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/iran-war-accelerating-ev-transition-140654071.html)