THE conflict in the Middle East has exposed a brutal truth: fossil fuel dependency rips away countries’ sovereignty and security, putting food prices, household budgets, business bottom lines, and entire economies at the mercy of geopolitical shocks. In a world of “might is right” politics that gets more volatile every month, the costs of fossil fuel subservience are spiralling out of control.
The latest conflict has unleashed what the International Energy Agency has called, “the greatest global energy security threat in history”, constricting oil and gas supplies and sending prices soaring. Inflation inevitably follows, with higher bills for families and businesses of all sizes.
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