Israel Launches Major Airstrikes on Iran, Boosts Oil Prices Globally

Recent developments in global energy policy and geopolitics are reshaping the sector significantly. The EPA has proposed repealing all greenhouse gas emissions standards for fossil fuel-fired power plants, arguing that further reductions would have minimal public health benefits, a move seen as prioritizing corporations over environmental protection. Concurrently, Israel has launched a major military operation against Iran, targeting nuclear facilities and key military figures, which has introduced substantial uncertainty to energy markets, especially regarding oil infrastructure and prices. On the international finance front, the World Bank has lifted its ban on funding nuclear power in developing countries, aiming to meet the projected doubling of electricity demand by 2035, and is investing in small modular reactors to facilitate energy transition while phasing out coal plants. Public opinion in the U.S. shows a decline in support for renewables but a rise in support for fossil fuels and nuclear power, reflecting a complex and evolving energy landscape influenced by political and cultural factors. These shifts illustrate the interconnected challenges of energy security, environmental policy, and geopolitical tensions.