Middle East crisis could cost world $1tn while oil firms make ‘obscene’ profit, analysis finds
Published by WarSignal Editorial · Last updated
Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are suffering The Middle East oil and gas crunch will impose as much as a trillion dollars of additional costs on the global economy while petroleum companies rake in spectacular profits from elevated fuel prices, analysis has revealed.
The uneven distribution of risk and reward comes amid rising concern that the US-Israeli attack on Iran is worsening inequality, poverty and hunger across a world that has become dangerously dependent on fossil fuels. Continue reading...
Verification Status
unverified — Unverified — single source, not yet confirmed This event has been confirmed by 1 independent sources.
Location
Sources (1)
About This Report
This report is generated by WarSignal's multi-source intelligence pipeline. Information is collected from wire services, OSINT channels, and partner APIs, then clustered, verified, and published with editorial oversight. Source attribution and verification status are displayed for full transparency. For our complete methodology, visit our Sources & Methodology page.