"The world is facing the biggest oil supply disruption in history, which has led to soaring energy prices and significant instability in stock markets."
"While millions are struggling with higher fuel and energy bills, top oil and gas companies are profiting around $30 million per hour since the war began."
"A genuine green industrial strategy is essential for governments to navigate the current crises and address the vulnerabilities exposed by reliance on fossil fuels."
"Mazzucato's concept of the common good economy offers a new framework for governments to consider in their economic strategies during challenging times."
The Iran war has resulted in the largest oil supply disruption in history, causing energy prices to rise dramatically and stock markets to become unstable. Economies reliant on fossil fuels are facing significant vulnerabilities, with millions experiencing higher fuel and energy costs. In contrast, major oil and gas companies are reportedly making profits of approximately $30 million per hour since the onset of the war. Mariana Mazzucato discusses the need for a genuine green industrial strategy and critiques the World Bank's shortcomings in addressing these issues.
Read at www.aljazeera.com
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