Ed Hirs warns that restricting U.S. diesel exports could deliver only temporary price relief as refiners reduce production, while worsening shortages for trading partners.

The prolonged Hormuz crisis may be doing more than temporarily suppressing oil consumption. DNV warns that sustained high prices could accelerate electric vehicle adoption and produce permanent oil demand destruction — much as the oil shocks of the 1970s permanently reshaped global energy consumption.

This article was published by The Conversation on March 31, 2026. By Michael J. Armstrong […]

This article was published by The Conversation on April 1, 2026. by John Duncan The […]

Ed Hirs argues that should Iran implement a partial blockade of the Strait of Hormuz, […]