Description:
Oil has been at the center of the war on Iran. Ben Norton explains how the United States became the biggest oil producer on Earth, and how the US empire uses petroleum as a geopolitical and economic weapon, pushing for monopolistic Big Oil corporations to dominate the global market. Ben also discusses why Trump pressured the UAE to withdraw from OPEC, and he debunks the myth that the USA is "energy independent".
Timeline:
0:00 Iran war and oil
0:36 Petrodollar
1:52 USA is biggest oil producer
3:39 US oil exports increase
4:32 Oil price skyrockets
5:03 Corporate profits rise
5:37 Strait of Hormuz
6:30 UAE withdraws from OPEC
7:31 Abraham Accords
8:37 OPEC history
9:14 Seven Sisters: Big Oil
11:01 OPEC members
12:13 OPEC+ participants
13:18 Goal of OPEC
14:25 State-owned oil companies
15:12 Why USA dislikes OPEC
16:56 Oil is political
17:18 Venezuela economic war
19:06 Big Oil execs in US govt
20:55 Cuba oil blockade
22:29 Energy and food crisis
23:36 US "energy independence"
25:06 US oil imports
26:12 Types of crude oil
27:26 US oil refineries
28:47 US imports by country
30:36 Oil benchmarks
32:47 Oil futures market
33:53 Price predictions
36:04 Economic crisis fears
37:02 Outro
0:36 Petrodollar
1:52 USA is biggest oil producer
3:39 US oil exports increase
4:32 Oil price skyrockets
5:03 Corporate profits rise
5:37 Strait of Hormuz
6:30 UAE withdraws from OPEC
7:31 Abraham Accords
8:37 OPEC history
9:14 Seven Sisters: Big Oil
11:01 OPEC members
12:13 OPEC+ participants
13:18 Goal of OPEC
14:25 State-owned oil companies
15:12 Why USA dislikes OPEC
16:56 Oil is political
17:18 Venezuela economic war
19:06 Big Oil execs in US govt
20:55 Cuba oil blockade
22:29 Energy and food crisis
23:36 US "energy independence"
25:06 US oil imports
26:12 Types of crude oil
27:26 US oil refineries
28:47 US imports by country
30:36 Oil benchmarks
32:47 Oil futures market
33:53 Price predictions
36:04 Economic crisis fears
37:02 Outro
