Friday, May 9, 2008

An oil-addicted ex-superpower

Nineteen years ago, the fall of the Berlin Wall effectively eliminated the Soviet Union as the world's other superpower. Yes, the USSR as a political entity stumbled on for another two years, but it was clearly an ex-superpower from the moment it lost control over its satellites in Eastern Europe.

Less than a month ago, the United States similarly lost its claim to superpower status when a barrel of crude oil roared past US$110 on the international market, gasoline prices crossed the $3.50 threshold at American pumps, and diesel fuel topped $4. As was true of the USSR following the dismantling of the Berlin Wall, the US will no doubt continue to stumble on like the superpower it once was; but as the nation's economy continues to be eviscerated to pay for its daily oil fix, it, too, will be seen by increasing numbers of savvy observers as an ex-superpower-in-the-making.

1 comment:

Anonymous said...

Michael Klare misses the target as usual due to his singular and misplaced focus on a single commodity, oil, as the primary driver of geopolitics. He tries to warm over the stale anti-ayrab paranoia and hysteria of the 70's while adding a dash of russophobia, but all he ends up with is a heap of sloppy disinformation.

Michael Klare:

"When it came to reliance on imports, the United States crossed the 50% threshold in 1998 and now has passed 65%.
Though few fully realized it, this represented a significant erosion of sovereign independence"

The US imports oil out of choice. Imported oil is still cheaper than investing in development of the vast proven shale oil deposits in the west. With oil prices holding steadily above the $80/barrel cost of production though, this may soon change. Oil majors have requested HB1 visas for thousands of Chinese engineers and specialists to begin skeleton operations. Jobs for Americans don't seem to be in the cards.