Professor Laleh Khalili discusses the implications for the petrodollar and for sustainable alternatives to oil.

Iran’s Revolutionary Guards have warned a “new stage of war” has begun after Israel bombed Iran’s South Pars gas field — the largest known natural gas reserve in the world. This comes as the price of oil has spiked to $118 a barrel, a 60% jump since the U.S. and Iran attacked Iran on February 28. Professor of Gulf studies Laleh Khalili lays out the global economic implications of the…

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