curated news excerpts & citations
Paul Krugman: Trump Is Losing a Second War
The Iran debacle is accelerating the shift away from fossil fuels
Last month, out of more than 11,000 new passenger vehicles registered in Norway, only around 150 had internal consumption engines. The rest were fully electric. In mainland Europe as a whole, EV sales are up 51 percent from a year ago.
The global energy transition — the shift from fossil fuels to electrotech, which uses solar, wind and batteries to power an electrified economy — is accelerating. It’s now clear that the closure of the Strait of Hormuz marks an inflection point: the global green energy curve, which was already on a rapidly rising trajectory, has suddenly become even steeper. “Investors,” reports the Financial Times, “are piling into clean energy funds.”
This acceleration isn’t just a consequence of soaring fossil fuel prices. It is also the result of the worldwide realization that, with the end of Pax Americana, depending on imported hydrocarbons is a risk not worth taking. …

Howard Yu: Western automakers just destroyed 73 billion dollars in EV writedowns this year
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Western governments pushed automakers toward electrification. Companies committed 330 billion dollars in EV investments between 2021 and 2024. Then the policy reversed. The 7,500 dollar tax credit was killed. CAFE standards were gutted. So automakers went back to gas trucks.
And now every canceled EV program in Detroit is a market BYD walks into unopposed. BYD exported 120,000 vehicles in March alone, up 65 percent year over year. It just raised its 2026 export target to 1.5 million units. A BYD dealership in Manila booked a month’s worth of orders in just two weeks.












