Ranjeet Brar: The relationship between the Ukraine conflict and oil

Why does the USA pursue such a self-defeating strategy on oil?

Comrade Ranjeet Brar appears on Press TV’s Economic Divide programme to discuss the world’s dependence on oil – in particular, the surging price of oil as a result of the war in Ukraine.

The world is dependent on oil from the middle east. However, the USA continues to aggravate not just countries in the middle east, but other major oil-producers such as Venezuela and Russia.

Why, after Saudi Arabia denied the USA’s request to increase oil production, did the USA proceed to sanction Russia and generally aggravate Opec countries? Comrade Ranjeet explains the logic behind this seemingly inept strategy to seize more oil.

Quite simply, the USA’s economic hegemony is predicated on its military superiority and its self-appointment as the world’s policeman. Its rulers are unable to leave this role, for their wealth depends upon it.

But their confrontational approach is becoming increasingly ineffective at a time when a multipolar world is emerging; when those countries that were previously so easily manipulated by the USA through brute force and currency manipulation are now able to turn to alternative partners.

Thus, the world’s anti-imperialist alliance grows.

The USA, whilst in words calling for energy security, makes no serious attempt to improve its long-term relations with oil-producing countries. The chief imperialist power once again shoots itself in the foot.