The expectation is that fossil fuels will remain economically important for decades, even if their share of energy use and the purposes they serve change. That would preserve the strategic importance of the Middle East and the Strait of Hormuz. Movement between the Atlantic and Pacific also gives the Panama Canal continuing value, with low water illustrating its vulnerability. The Suez Canal carries trade whose volume is unlikely to disappear simply because some production moves home. Long-range planning can therefore anticipate continued movement through major shipping routes without assuming that the mix of cargoes will stay the same.
Notable Point ยท 24:32-26:25
Energy change still leaves trade routes to protect
Changing energy use and industrial location can alter cargoes while leaving major canals and straits strategically important.