The most severe shock to energy markets since the 1970s is now cascading through the world economy
The Wall Street Journal reports: The chairman of oil producer DNO was flying from New York to Oslo early on Feb. 28 when he told staff to turn off the company’s oil wells in Iraq. America and Israel had just attacked neighboring Iran. Bijan Mossavar-Rahmani wasn’t taking any chances, having weathered a drone strike on the company’s oil fields in Iraqi Kurdistan last summer. By the time he landed, the pumps had stopped—the first oil shutdown of the war. To…