The US and oil

America’s rise to economic and military supremacy was fueled in no small measure by its control over the world’s supply of oil.  Oil powered the country’s first giant corporations, ensured success in World War II, and underlay the great economic boom of the postwar period.  Even in an era of nuclear weapons, it was the global deployment of oil-powered ships, helicopters, planes, tanks, and missiles that sustained America’s superpower status during and after the Cold War.  It should come as no surprise, then, that the country’s current economic and military decline coincides with the relative decline of oil as a major source of energy.

TomDispatch

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