Iran War Triggers Billions in New Oil Pipeline and Port Investment

The severe disruption of oil and gas flows out of the Persian Gulf resulting from the war between the U.S. and Israel and Iran, has saddled energy-importing nations with soaring bills, supply uncertainty, and a murky outlook. However, there has been a silver lining: a rush to build alternative conduits for bringing oil and gas out of the Middle East. The global total energy import bill swelled by $330 billion over the six months between March and August, Finnish climate outlet Centre for Energy Research and Clean Air reported earlier this month.…