The geography, politics, security and stability of West Asia over the past century have always been about oil. Nations were created, regimes were changed and wars have been waged in the name of oil. From the First World War till the Second Gulf War, it was about Western powers securing access to oil.
Over the past decade, with the US becoming self-reliant on the energy front, the focus of US policy has shifted to retaining control over the sources of supply, and not just ensuring its supply. This is by now a commonplace observation. But it is an observation that merits repetition. Renewed tension in the Persian Gulf is not about over-powering Iran-sponsored terrorism. It is about securing control over Iran-produced oil.
Structural changes in the market for energy have, in particular, reduced US dependence on imported oil and, in general, Western dependence on hydrocarbons. Read More
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