The war in Ukraine is already accelerating plans to increase energy security in the EU, UK and USA and elsewhere. The aim is to replace import-dependent, fossil fuel-based infrastructure with modern renewable-based power sources.
The International Energy Agency has already called for support for Electric Vehicles to be prioritized, along with the unblocking of supply chains to maximize resilience. It has also urged governments and businesses to increase plastic waste collection, re-use and recycling.
These developments also highlight the problems faced by the US shale gas expansions down the chemical chain, and the wake-up call awaiting OPEC and others who believe that pivoting from transport to chemicals will somehow keep oil demand growing in the future.