When oil prices spike, where does the money go?
Summary
The Conversation article analyzes how spikes in oil prices ripple through economies and affect various stakeholders. It explains that higher prices typically channel more money to oil producers (and their shareholders), while governments collect taxes and sovereign wealth revenue, and consumers face higher costs. The piece also discusses regional dynamics (Middle East risk, North Sea and West Texas windfalls), sanctions on Russia, and the broader shift toward energy alternatives to mitigate price shocks.