“One of the most important lessons from the war with Iran is one that few saw coming,” the New York Times reports.“The conflict has made clear that China, which has long been highly vulnerable to oil supply shocks, has managed to transform that weakness into a surprising source of geopolitical power. The country made that big shift by stockpiling huge amounts of oil, building extra oil refining capacity and investing in coal and other alternatives. And in the early months of the war, it flexed that power by cutting off supplies of jet fuel, gasoline and diesel to neighboring countries.”“That has big implications for the global energy industry, where oil producers like Saudi Arabia and the United States — not importers like China — have traditionally held most of the cards.”“Already dominant in solar panels, batteries and electric vehicles, China now appears to have an unparalleled position across the energy landscape.”