The Oil Price Shock Is Here. Its Arrival Provides a Familiar Warning.

Inside Climate News · By Dan Gearino · last updated March 9, 2026 – 8:14 AM

With gasoline and oil prices rising, U.S. consumers are already feeling the effects of the Iran conflict and the consequences of a slow transition to cleaner alternatives.

By Dan Gearino

Oil prices shot up on Monday as disruptions related to the war in Iran sent shockwaves through financial markets, underscoring the risks for countries that have been slow to diversify beyond fossil fuels.

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