Podcasts · EQUALS: Reimagining Our Economy
War, Oil, and Inequality: Who Wins and Who Loses
· 25 min · S8 E18
Episode War, Oil, and Inequality: Who Wins and Who Loses
In this episode, Adam Hanieh explains why crises like war, financial shocks, and pandemics don’t stay where they start. They move through the structures of the global economy.
He explains how the effect of the Middle East war is going to move beyond borders through energy prices, food prices and security and consequently high cost of living, hitting the poorest of the population the hardest. Drawing on the aftermath of the 2008 financial crisis and the COVID-19 pandemic, Adam shows how these shocks consistently deepen inequality, hitting the most vulnerable hardest.
He unpacks the central role of the Gulf countries in global supply chains, from oil and gas to fertilisers and industrial materials, and how disruptions in the region can drive inflation, strain food systems, and raise the cost of living worldwide.
The conversation also explores the risks of continued dependence on fossil fuels, and why responding to these interconnected crises requires international cooperation rather than fragmented, national responses.
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