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As long as nearly every other country is just as dependent (either via consumption or production / sales) then oil morphs into a tool of influence and control (
by chiefalchemist 5y ago
As long as nearly every other country is just as dependent (either via consumption or production / sales) then oil morphs into a tool of influence and control (read: weapon).
For example, recently (circa 2000 and forward) the USA - said to be concerned about the environment and climate - made a commitment to fracking; to the point the USA became a net exporter. Aside from helping to lubricate an often ailing economy (especially post 2007 / 2008), this increase in production caused international cost per barrel to fall. As exporters Venezuela and Russia - not USA allies - felt that pain, and still are.
Oil influences foreign policy, but that's because of it's economic importance and can be weaponized.
https://www.aardvarkpackers.com/fracking-stats/ https://www.aardvarkpackers.com/fracking-stats/