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Energy Reliability Is Becoming More Important Than Energy Politics

For much of the past decade, energy debates often pitted fossil fuels against clean energy. Governments announced dates for phasing out technologies, investors tried to anticipate which industries would lose favor, and energy policy increasingly became entangled with political identity. The war with Iran has exposed the limitations of approaching energy policy that way. When supplies are disrupted and prices rise sharply, governments become much less interested in ideological consistency and much more interested in keeping fuel available,…