It’s possible that the recent blackout on the Iberian peninsula goes down in history as a catalyst for widescale electricity grid upgrades which ultimately help to bolster the pace of the renewable rollout. But at least in developed economies, it’s arguably more likely to bolster the pushback against the green transition and soften policymakers’ ambitions to phase out fossil fuels.
Note: we will be discussing the future of OPEC+, oil prices, and the Gulf in an online briefing on Wednesday 7th May at 1pm BST/8am EST. You can register here.
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