Well researched and written article. I wasn't even aware the Americans provide so much muscle to protect the oil trading route on the high sea. This is an eye opener, and I think it's safe to say American hegemony is not going anywhere for the foreseeable future. Any other alternative to American hegemony that we are told is being created is a dream and will for a long time remain a dream.
Best and most valuable article I have seen in a long time. And the Polish history of oil industry!
Explaining 'price elasticity' is very telling of the real challenge of reducing fossil fuels; it is so much more than 'fuels'!
UN as guardian of trade routes? With military means and costs? Dag Hammarskjöld was a great secretary general, but not much of a military commander. I don't think the UN should go in this direction, even if it could; and we need to be grateful to the US for setting an example, even with it's many questionable shortcomings.
So far I don't think this is likely, but this is a good question, so let me take your question seriously.
If oil were banned and strict enforcement was implemented, the selling nation would face severe sanctions, including trade and arms embargoes, freezing and confiscation of assets denominated in major currencies like the US/Can/Aus/NZ dollar, pound sterling, Swiss franc, Euro, and Japanese Yen. Similar to the sanctions imposed on countries like Iran and North Korea due to their nuclear activities or on Russia for invading Ukraine, a comparable approach would be necessary for oil-related matters.
The policy would be more effective if nations besides the West enforced it too. If China, Russia, and India ignored what the West was doing, then avoiding sanctions would be easier wouldn't it?
Depends on the country. Sanctions haven't worked on Russia or Iran but they worked on Eritrea and Libya.
Gaddafi used to try to pursue nukes and was isolated. By the 2000s, Gaddafi gave up nuclear power and allowed the west to come in his facilities. He also started a fund for the dead victims for terorist bombings he used to do.
Same with Eritrea. Eritrea used to help AL-Shabaab in Somalia and tried to snatch territory from Djibouti. It stopped helping al-shabaab and its aggression on Djibouti.
Well researched and written article. I wasn't even aware the Americans provide so much muscle to protect the oil trading route on the high sea. This is an eye opener, and I think it's safe to say American hegemony is not going anywhere for the foreseeable future. Any other alternative to American hegemony that we are told is being created is a dream and will for a long time remain a dream.
Best and most valuable article I have seen in a long time. And the Polish history of oil industry!
Explaining 'price elasticity' is very telling of the real challenge of reducing fossil fuels; it is so much more than 'fuels'!
UN as guardian of trade routes? With military means and costs? Dag Hammarskjöld was a great secretary general, but not much of a military commander. I don't think the UN should go in this direction, even if it could; and we need to be grateful to the US for setting an example, even with it's many questionable shortcomings.
Superb lesson.
Haha,
So far I don't think this is likely, but this is a good question, so let me take your question seriously.
If oil were banned and strict enforcement was implemented, the selling nation would face severe sanctions, including trade and arms embargoes, freezing and confiscation of assets denominated in major currencies like the US/Can/Aus/NZ dollar, pound sterling, Swiss franc, Euro, and Japanese Yen. Similar to the sanctions imposed on countries like Iran and North Korea due to their nuclear activities or on Russia for invading Ukraine, a comparable approach would be necessary for oil-related matters.
The policy would be more effective if nations besides the West enforced it too. If China, Russia, and India ignored what the West was doing, then avoiding sanctions would be easier wouldn't it?
Depends on the country. Sanctions haven't worked on Russia or Iran but they worked on Eritrea and Libya.
Gaddafi used to try to pursue nukes and was isolated. By the 2000s, Gaddafi gave up nuclear power and allowed the west to come in his facilities. He also started a fund for the dead victims for terorist bombings he used to do.
Same with Eritrea. Eritrea used to help AL-Shabaab in Somalia and tried to snatch territory from Djibouti. It stopped helping al-shabaab and its aggression on Djibouti.
Libya:
https://open.substack.com/pub/yawboadu/p/the-history-of-libya?r=garki&utm_campaign=post&utm_medium=web
Eritrea:
https://open.substack.com/pub/yawboadu/p/a-quick-read-on-eritrea?r=garki&utm_campaign=post&utm_medium=web