Even if the Iran war ends, the next fossil fuel shock is already on its way
GCC News
To prepare, the world needs to focus on building energy independence through renewables and decentralisation.
As hostilities between the United States and Iran reignite, global attention has shifted again to the immediate risks of the conflict.
Across the Middle East, families have endured fear, uncertainty and violence. Communities have faced disruption, displacement and the destruction that war brings. Protecting lives must remain the immediate priority.
Regional Impact
Yet, whatever happens in the coming days and weeks, the broader lesson will remain.
The conflict has exposed a structural vulnerability in the global economy: as long as countries depend on fossil fuels, instability anywhere can create economic pain everywhere.
It has also highlighted something else: the transition to decentralised renewable energy is increasingly a matter of economic security and resilience.
Market & Policy
As executive director of Greenpeace International, I regularly speak with colleagues across our global network who have described to me how the impacts of the US-Israel war on Iran are felt worldwide.
In East Asia and Southeast Asia, the closure of the Strait of Hormuz has driven up fuel costs, inflation and pressure on household budgets in economies heavily dependent on imported oil and gas. Across Africa and Latin America, rising fuel prices have placed an additional burden on already impoverished communities. In Europe, North America and Australia, higher energy expenditures have affected transport costs, electricity bills and ultimately the price of everyday goods.
This is fossilflation: the inflationary pressure created by an economic system that remains heavily dependent on fossil fuels.
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