It’s the Energy and the Economy, Stupid: An open letter to US policymakers
By William Clark
The 21st century will likely be defined by three overarching forces: climate change, Peak Oil, and macroeconomics. The twin issues of climate change and Peak Oil are intertwined variables, and each represent extremely important phenomena that have slowly gained some public awareness. However, the third issue, macroeconomics, and more specifically the global trends regarding multiple petrocurrencies remains essentially unreported by the five US corporate media conglomerates.
Despite the general lack of public debate, the geopolitical landscape of this young century is increasingly being driven by escalating competition for energy supplies before global oil production peaks, and the erosion of dollar hegemony with the emergence of new petrocurrency alignments. The hypothesis outlined in Petrodollar Warfare; Oil, Iraq and the Future of the Dollar, is that the tragic war in Iraq is unfortunately the first oil-depletion and oil-currency war of the 21st century.
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