How Washington Uses Energy as a Weapon

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This essay argues that control of the global oil trade is a core instrument of U.S. power, underpinning dollar-based finance and coercive diplomacy. It frames sanctions, blockades, asset seizures, and regime-change operations as tools to keep rivals and non-aligned states dependent on energy routes, pricing, and payments channels dominated by the U.S. and allied firms. The text links this to the petrodollar system: oil priced in U.S. dollars, settled through Western banks, with surpluses recycled into U.S. financial assets. It claims that as U.S. industrial strength erodes, leverage shifts from positive inducements to choke points, disruption, and threats of force, extending to demands over how producers use oil revenues. It also argues that renewable energy threatens this model by reducing oil dependence, and that U.S. opposition to decarbonisation is partly strategic: preserving energy leverage and monetary primacy.

Venezuela as the pivot for New Internationalism?

Saker interview with Michael Hudson on Venezuela, February 7, 2019 Introduction: There is a great deal of controversy about the true shape of the Venezuelan economy and whether Hugo Chavez’ and Nicholas Maduro’s reform and policies were crucial for the people of Venezuela or whether they were completely misguided and precipitated the current crises. Anybody and everybody seems to have very strong held views about this. But I don’t simply because I lack the expertise to have any such opinions. So I decided to ask one of the most respected independent economists out there, Michael Hudson, for whom I have immense respect and whose analyses (including those he co-authored with Paul Craig Roberts) seem to be the most credible and honest ones you can find. In fact, Paul Craig Roberts considers ...