Iran war’s global energy crisis sharpens China’s advantage in clean tech

China is poised to benefit from the Iran war as global energy disruptions accelerate a shift away from fossil fuels and toward clean technologies and renewable power, industries that China dominates. Most of the oil and gas from the now mostly shut Strait of Hormuz was Asia-bound. Asian nations are scrambling to conserve energy and bolster dwindling reserves. As a temporary ceasefire teeters, gasoline prices in the U.S. and Europe are spiking. While most of Asia is hit hard, China will likely benefit from the fossil fuel disruptions despite being the biggest purchaser of Iranian oil. China leads the world…