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How Rising Oil Prices Will Change the World as We Know It

FP columnist Adam Tooze on the implications for inflation and climate change.

By , a deputy editor at Foreign Policy.
A worker directs motorists lining up at a gas station just before a huge jump in the price of petroleum products went into effect in Quezon City, Phiippines, on March 7.
A worker directs motorists lining up at a gas station just before a huge jump in the price of petroleum products went into effect in Quezon City, Phiippines, on March 7.
A worker directs motorists lining up at a gas station just before a huge jump in the price of petroleum products went into effect in Quezon City, Phiippines, on March 7. Ezra Acayan/Getty Images

Russia’s War in Ukraine

The price of a barrel of oil peaked at $130 this week, its highest since 2008. The pain is already spreading around the world—to people who rely on gas to get to work or oil to heat their homes.

Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi

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