The Iran Oil Shock: Will it Force the World to Re-think the Future of Energy?

In this special episode Jason Bordoff, founding director of the Center on Global Energy Policy, sits down with Robin Pomeroy, host of the World Economic Forum podcast, Radio Davos, to talk about the global and likely lasting impacts of the current energy shock. This episode is a crosspost originally published by Radio Davos. During the first weeks of the war in Iran, most analysis focused on the immediate energy shock it triggered. To explore the longer-term implications of the conflict, Jason and Meghan O'Sullivan, director of the Belfer Center for Science and International Affairs at Harvard's Kennedy School, recently co-authored a piece for Foreign Affairs titled, "The Iran Shock, And the Dangerous Allure of Energy Autarky". Jason joined Robin Pomeroy to discuss the article and how the largest oil supply disruption the world has ever seen is impacting near-term energy security while fundamentally reshaping the future of the industry. (Unfortunately, Meghan O'Sullivan was unable to join the recording due to illness.) Our thanks to Robin and the World Economic Forum for collaborating with us to share this conversation.

The global order that shaped the past several decades is giving way to a more fragmented and uncertain world. Long-standing alliances are under strain, economic integration is giving way to competition, and geopolitical risk is once again a central driver of markets and policy. These shifts are not abstract. They are reshaping trade flows, disrupting supply chains, and contributing to volatility in energy markets and the broader economy—affecting everything from fuel prices to the cost of goods. So, how might great power competition, geopolitical fragmentation, artificial intelligence, and global instability redefine the international landscape? And what will that mean for policymakers, businesses, and the global energy system? This week's episode features a fireside chat between Jason Bordoff and Ian Bremmer from the Columbia Global Energy Summit 2026, which was hosted by the Center on Global Energy Policy at Columbia University SIPA and recorded earlier today. Jason and Ian examine the Iran crisis, the Islamabad talks, and the shifting dynamics of the Gulf region. They also address the "myth" of sovereign AI, China's strategy, and the deep structural concerns of global CEOs navigating today's volatility. Ian Bremmer is the president and founder of Eurasia Group, a geopolitical risk advisory firm, and GZERO Media, a digital media company providing coverage of international affairs. He is the author of eleven books, including his latest work, The Power of Crisis: How Three Threats—and Our Response—Will Change the World. Ian also teaches at Columbia University's School of International and Public Affairs. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

It's been a head-spinning day in the Iran war. Earlier today, following a temporary truce between Lebanon and Israel, Iran announced that the Strait of Hormuz would be "completely open" to commercial shipping during this ceasefire. Initial reactions from President Donald Trump were optimistic, but that gave way to some confusion about what "open" actually means in practice. The president later clarified that the existing U.S. blockade on Iranian vessels would remain in place. Despite the confusion, markets responded quickly. Brent crude dropped below $90 a barrel for the first time in weeks, though prices are still meaningfully elevated relative to pre-war levels. Even with the reprieve, much uncertainty looms as the U.S.-Iran ceasefire deadline of next Tuesday, April 21, approaches So, what does this moment tell us about the future of energy security? How durable is the current ceasefire? And what energy system will this crisis leave behind?  Today on the show, host Jason Bordoff talks with Amos Hochstein about the recent developments in the Middle East. They discuss the long-term implications of Iran's control of the Strait of Hormuz, the war's geopolitical and energy market impacts, and where Amos thinks this conflict is headed in the near and longer term. Amos served as deputy assistant and senior advisor for energy and investment to President Biden, and as special presidential coordinator for global infrastructure and energy security. He is a managing partner at TWG Global and a distinguished fellow at Columbia University's School of International and Public Affairs. Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc

With an April 21 deadline looming, the Middle East remains suspended in a volatile state of war and peace. Regional mediators are scrambling to broker a second round of US-Iran talks before the current two-week ceasefire expires, hoping to narrow gaps over nuclear ambitions and the Strait of Hormuz to buy critical time for a lasting truce. In this episode of Iran Conflict Brief, Daniel Sternoff is joined by Mohammad Ali Shabani to analyze the shifts in Tehran's decision-making and the precarious future of the current diplomatic reprieve. Shabani, editor of Amwaj.media and a veteran analyst of Persian Gulf power dynamics, provides a rare look inside the competing circles of influence in Tehran. He and Daniel address a fundamental question: if the regime survives this conflict, can the Islamic Revolutionary Guard Corp ever pivot away from its "resistance" ideology, or is holding global energy flows hostage now an existential pillar of its survival? Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Energy abundance means different things in today's global context than it did even a decade ago. It is about expanding electricity access while meeting rising energy demand. It is about navigating geopolitical fragmentation, limited government support, shifting development priorities, and leveraging new technologies to deliver reliable power at scale. But the challenge is not just technological. It is institutional and financial. Many low- and middle-income countries face high capital costs, limited access to financing, and policy frameworks that struggle to keep pace with growing demand.  Solving this challenge is a priority for both the Center on Global Energy Policy and the Rockefeller Foundation, which together have launched a new high-level panel to advance universal energy abundance. This initiative positions reliable, affordable energy as a cornerstone of economic growth, industrialization, and opportunity in emerging and developing economies.  So what does it take to move from energy scarcity and toward energy abundance? Can international institutions, governments, and investors come together to mobilize the scale of investment required? And how can emerging economies balance the urgency of expanding energy access with the need for affordability, reliability, and sustainability? Today on the show, Jason Bordoff speaks with Rajiv Shah, president of The Rockefeller Foundation, about the high-level panel on universal energy abundance and its goals. Rajiv leads The Rockefeller Foundation's mission to promote the well-being of humanity by ending energy poverty for more than a billion people, ensuring universal access to food, and strengthening health systems. During the Obama administration, he led the US Agency for International Development as its administrator. He also served on the National Security Council, where he elevated the role of development as part of a bipartisan foreign policy. Earlier in his career, Rajiv developed programs to address climate change and global food security at the US Department of Agriculture and held leadership roles at the Bill & Melinda Gates Foundation. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.  

The conflict in Iran is a reminder of how quickly global energy markets can be disrupted. It also underscores why advances in things like battery technology — from electric transportation to grid-scale storage — are becoming central to energy resilience and security. It has been about 50 years since British chemist Stanley Whittingham laid the foundation for the first lithium-ion battery at an Exxon research lab in New Jersey. In 2019, he and two other scientists, John Goodenough and Akira Yoshino, earned a Nobel Prize for the breakthrough. By then, lithium-ion batteries had transformed consumer electronics and a growing segment of the transportation sector. And today, battery storage is playing an increasing role in supplying new capacity to the eclectic power sector. So what is the state of battery innovation today? Are there battery chemistries that could dethrone lithium-ion technology? How do mineral availability and environmental health play into the battery market? And what does the federal government's waning support for renewable energy mean for the battery industry?   Today on the show, Bill Loveless speaks with Dan Steingart about the arc of innovation in the battery space, and how different energy storage applications are evolving. Dan is the Stanley-Thompson Professor of Chemical Metallurgy and a professor of chemical engineering at Columbia University. He also chairs the Department of Earth and Environmental Engineering and co-directs the Columbia Electrochemical Energy Center. Prior to joining Columbia in 2019, Dan was an associate professor at Princeton University. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.  

On the eve of President Trump's deadline for Iran to reopen the Strait of Hormuz, the global energy landscape faces a moment of unprecedented risk. With dated Brent crude already surging past $140 a barrel, the threat of tit-for-tat infrastructure strikes looms over the region. In this episode, Daniel Sternoff speaks with Ali Ansari about what's happening in Iran, how decisions are getting made, and how the regional energy landscape is being permanently reshaped. The conversation delves into the fractured state of Iranian decision-making following the death of Khamenei and the rise of the Islamic Revolutionary Guard Corps as both a military and a corporate hegemon. Ali explains how the IRGC's "mosaic defense" strategy has devolved operational command to local levels, creating a political system that struggles to coordinate even basic utilities like gas and water for its citizens. Ali Ansari is a professor of Iranian history and the founding director of the Institute for Iranian Studies at the University of St Andrews. He is also a senior associate fellow with the Royal United Services Institute and the author of multiple books on the politics of modern Iran. Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.  

While US and Israeli forces have significantly degraded Iran's military and nuclear capability, the global energy landscape remains in a precarious position. For weeks, the Strait of Hormuz has been effectively shut to tanker traffic, causing physical markets to tighten and rationing to spread across Asia. With the US considering an "off-ramp" to declare victory, the world faces a critical dilemma: can the global economy survive a peace that leaves Iran in control of the world's most vital maritime chokepoint? In this episode of the Iran Conflict Brief, host Daniel Sternoff speaks with Robin Mills to provide a view from the ground in Dubai. They discuss the reality of living under frequent drone and missile alerts, the "tit-for-tat" targeting of industrial infrastructure, and what it would take to reopen the Gulf. They also explore the long-term threat to the GCC's economic diversification models and the potential multi-year recovery timeline for regional LNG production. Robin Mills is a Dubai-based non-resident fellow at the Center on Global Energy Policy and the CEO of Qamar Energy. With over two decades of experience in the Middle East, including roles at Shell and the Emirates National Oil Company, Robin is a leading authority on regional oil and gas business development and the author of The Myth of the Oil Crisis. Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

During President Trump's second term, the administration has taken unprecedented action in the US private sector. The federal government's investments in critical mineral mining and chip manufacturing are two examples. The Trump administration has also embraced tariffs, framing them as tools for economic security and a domestic industrial revival. This shift toward state intervention into private markets, done in the name of national security and economic security, has some bipartisan support. It also has major implications for energy security and the clean energy transition. So how can this new form of American state capitalism be conceptualized? Is the Trump administration's use of these tools different from prior US government programs to support critical industries, like the Biden-era investments under the CHIPS Act? And what are the best strategies for aligning industrial policy with goals around energy security, supply chain resilience, and innovation? Today on the show, Jason Bordoff speaks with Daleep Singh about how the US deploys economic statecraft and the need for a framework to guide its use. Daleep Singh is vice chair and chief global economist at asset management firm PGIM and a thought leader on global policy and macroeconomic trends. He first joined PGIM in 2022, before serving the Biden administration as deputy national security advisor for international economics and deputy director of the National Economic Council. Earlier in his career, he held roles at the New York Federal Reserve and the US Treasury Department. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.  

Today marks the last day of CERAWeek, the annual energy industry conference sometimes described as the Davos of energy. As oil and gas CEOs and government officials gathered in Houston, efforts to broker a ceasefire in Iran failed, and US oil and gasoline prices whipsawed. Speaking at the conference, Energy Secretary Chris Wright said that the current supply disruptions would be short term, framing rising energy costs as a trade-off for the administration's goal of regime change in Iran. Meanwhile, some oil and gas CEOs warned of coming shortages and said the supply shock is not yet reflected in energy prices. So, aside from a prevailing sense of instability, what are the takeaways from this year's CERAWeek? Where is the energy crisis headed from here? What have the supply shocks changed about how the industry thinks about risk and resource planning? How are events in the Gulf affecting the renewable, coal, and nuclear energy markets? And what does it all mean for global energy security? Today, in a special edition of Columbia Energy Exchange, Jason Bordoff talks to Bloomberg opinion columnist Javier Blas to recap the events of the past week and to discuss how oil and gas supply disruptions are reverberating across the industry.  Prior to joining Bloomberg in 2015, Javier held a number of roles at the Financial Times, including Africa editor and the commodities editor. He is also the co-author of The World for Sale: Money, Power and the Traders Who Barter the Earth's Resources. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.