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US paying most for Hormuz oil shock with world’s largest fuel bill
Why it’s here: Quantifies the US economic cost of the Hormuz oil shock and links it to EV policy, fuel consumption, and the energy transition, which are live US policy debates relevant to DC readers.
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Oct 26Centre for Research on Energy and Clean Air (CREA)US paying most for Hormuz oil shock with world’s largest fuel billCREA estimates the Hormuz oil shock has cost the world an extra $468 billion in fuel, with the US carrying the largest bill because of heavy oil-burning car use and slow electrification.1 outlet21 linked
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