New Delhi, May 3 -- When the 1973 oil crisis struck, it dramatically changed the way that economies used fossil fuels such as petroleum. Economies are still fossil-fuel dependent, but much less than about 50 years ago. The West Asia war could prove another turning point in the story of dependence on fossil fuels. In a recent interview with the Guardian, International Energy Agency (IEA) executive director Fatih Barol said the US-Iran war had changed the fossil fuel industry forever.

"There will be a significant boost to renewables and nuclear power, and a further shift towards a more electrified future," he said. Even now, IEA's data bear witness to this shift.

Till just a few months ago, the so-called 'green transition' had seemingly c...