New Delhi, March 17 -- The Strait of Hormuz is barely 21 nautical miles wide at its narrowest point. Yet, through this narrow corridor flows nearly 20 percent of the world's oil and gas supply, meeting close to 80 percent of global energy demand. When tensions escalate in the Gulf and tankers hesitate to pass through these waters, the consequences ripple across the planet-from transport costs in Asia to inflation in Europe and food prices in Africa.

From the 1973 oil embargo to the current tensions involving Iran, repeated Gulf conflicts have reminded the world how fragile the global fossil-fuel system really is. But unlike in the past, this time may be different.

For the first time in history, humanity possesses both the scientific con...