The Iran war has exposed deep vulnerability in the global economy: dependence not just on oil, gas and coal for fuel, but on petrochemicals that underpin everything from food production to plastic packaging.
As disruptions ripple through energy markets, the war is highlighting how fossil fuels are embedded far beyond transport and electricity. In the short-run, the widespread reliance will lead to higher prices for myriad products, while long-term the pollution that comes from petrochemicals will exacerbate climate change.
