Environment / May 21, 2026 The Oil Era Is Ending Is the Iran war a death knell for America’s oil hegemony? Ad Policy The ConocoPhillips Oil Refinery is seen in Wilmington, California on April 11, 2026. (Etienne Laurent / AFP / Getty Images) This story is part of Covering Climate Now, a global journalism collaboration cofounded by Columbia Journalism Review and The Nation strengthening coverage of the climate story.