From Oil To Critical Minerals: The Next Energy Security Risk

InnovationSustainabilityFrom Oil To Critical Minerals: The Next Energy Security RiskByElena Bou,Contributor.Forbes contributors publish independent expert analyses and insights. Elena Bou, Co-Founder, InnoEnergyFollow AuthorApr 29, 2026, 08:40am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.CHONGQING, CHINA - JULY 26: In this photo illustration, metal cubes representing rare earth elements including Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), Terbium (Tb), and othersare displayed with their symbols and atomic numbers on overlapping flags of the United States and China on July 26, 2025 in Chongqing, China. (Photo illustration by Cheng Xin/Getty Images)Getty ImagesWhen tensions in the Middle East escalated this spring, the Strait of Hormuz turned into a focal point of global concern. Oil prices surged, markets tightened. Governments scrambled to assess exposure.Roughly a quarter of global seaborne oil trade passes through this narrow corridor. Any disruption would be felt instantly across the global economy. So much so that the International Energy Agency (IEA) described the situation as the “greatest global energy security challenge in history.”1For many, this only reinforces the case for accelerating the clean energy transition. Renewable energy sources are largely independent of fuel price fluctuations, offering a more stable and lower-cost base. Countries with higher shares of clean electricity and electrified end uses are already proving more resilient to current fuel price shocks.2But that is only half of the picture.A MarineTraffic map showing ship movements in the Strait of Hormuz is pictured through a magnifying glass in this photo illustration, as commercial vessel traffic through the key oil shipping lane drops sharply amid the escalating conflict involving Iran. Taken in Brussels, Belgium, on March 15, 2026. (Photo by Jonathan Raa/NurPhoto via Getty Images)NurPhoto via Gett...