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The most consequential thing that the war between the United States and Iran revealed has nothing to do with missiles or centrifuges. The war has shown just how much of the world’s economy now turns on the unchecked decisions of individual men: an American president who could start the war without asking Congress, and a Tehran regime that could respond by putting a fifth of the world’s oil beyond anyone’s reach.
The rest of the world got no say in any of it. On June 14, the United States and Iran reached a framework agreement to end their war and reopen the Strait of Hormuz, though the ceasefire has since broken down in an on-again off-again cycle of retaliations. (Right now, it is off!)
The largest oil and gas supply disruption in history is far from over, but its strongest legacy might well end the dominance of fossil fuels. Unlike the climate argument, which…
