Oh wow, that's far higher than I've been using in my estimates, I'd been rounding down to 1/3.

The massive reduction in oil supply from the sudden and unexpected closure of the Strait of Hormuz, with gas prices jumping but minimal economic contraction, has been great evidence that we could perform a global energy interchange far faster than anybody ever expected without causing massive damage.

However, the pushback I've been hearing a lot is that ocean freight still needs fossil fuels, that's always going to be a blocker.

In reality, it's only ~1% of emissions, and half of it goes away when we stop other uses, so solving that 0.5% of fossil fuel use, or even still emitting it, is really a rounding error. (And methanol or ammonia as well as other synthetic fuels based off hydrogen production have a great chance of stepping into that, especially as we massively scale ammonia production from electrolyzers, which also solves the fertilizer that has been caused by closing the Strait of Hormuz).

Fossil fuel based economies are inherently fragile and bound to massive price increase cycles. Changing our economies to be powered by renewables and storage will be far more stable, cheaper, and bring a massive increase in economic output. We can't switch fast enough.