The Power of Oil
From Carl B.
The Power of Oil
Scramble for diminishing resource shapes global relationships
Dilip Hiro
YaleGlobal Online, 10 January 2006
Venezuela President Hugo Chavez
LONDON: A geopolitical game has been underway ever since oil became a strategic commodity just before World War I. Once dominated primarily by Western nations, the game now includes many non-Western ones, with the countries dependent on oil imports increasingly reluctant to antagonize those endowed with oil.
A case in point, Western capitals have abandoned threats of placing Iran in the dock at the UN Security Council – at least for the time being. On January 10, to the chagrin of the International Atomic Energy Agency (IAEA), Iran resumed research in enriching uranium that it had voluntarily stopped earlier
Read the rest of the report here Yale Global Online
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