Geopolitical Economy Report

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".

VIDEO: https://www.youtube.com/watch?v=gh-E3q6tGEw

Check out our related video on the biggest oil crisis in history: https://www.youtube.com/watch?v=bUdyPJM_rOw

Topics
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

The US-Israeli war on Iran has caused the largest oil supply shock in history, according to the International Energy Agency (IEA). Ben Norton explains how the attacks by Trump and Netanyahu, and the ensuing blockade of the Strait of Hormuz, have unleashed an energy crisis that could destabilize the global economy.

VIDEO: https://www.youtube.com/watch?v=bUdyPJM_rOw

Topics
0:00 Intro
0:23 Schrödinger's ceasefire
1:24 Energy crisis
3:11 Strait of Hormuz
5:14 Petrodollar
6:45 Blockade
7:35 Impact on Asia
10:46 Europe
11:29 Food crisis
13:38 China
16:20 Renewable energy
18:24 Trump's claims
19:41 Stagflation fears
21:34 Outro

There are growing signs that the United States may be on the verge of another major financial crisis, one that could start in the $3 trillion private credit market, which is already seeing significant turmoil, before spreading to other sectors.

Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson to discuss the serious problems on Wall Street. Hudson warned that the US economy is built on a Ponzi scheme that depends on continuing to pour money into a bloated, bubbly financial system based on unsustainable speculation, not industrial production.

VIDEO: https://www.youtube.com/watch?v=Blv49u3Q230

Check out our related short video about the private credit crisis on Wall Street: https://www.youtube.com/watch?v=S1cx9Zk6WZk

Topics
0:00 Introduction
1:37 Highlights of Michael Hudson
3:29 Interview starts
4:18 2008 financial crisis
5:04 Zero interest-rate policy (ZIRP)
7:31 Private equity
9:17 Lack of investment
10:34 Wealth inequality
12:08 Debt defaults
14:10 Depression fears
16:12 US govt supports Wall Street
19:07 Ponzi schemes
23:51 US economic problems
27:35 Iran war impact
30:16 Financialization of economy
33:46 Outro

The peace talks held between the US and Iran in Islamabad, Pakistan failed. Despite a temporary, two-week ceasefire Donald Trump announced a naval blockade of the Iranian blockade of the Strait of Hormuz. Ben Norton explains the USA's strategy, and how it is targeting China and Asian economies that import oil, natural gas, and other important commodities from the Persian Gulf.

VIDEO: https://www.youtube.com/watch?v=qDH5qMZSPm4

Topics
0:00 Peace talks in Pakistan fail
1:07 Trump blockades the blockade
2:53 Iran trolls the US
3:45 Trump's contradictory posts
6:12 Ceasefire
6:51 Israeli attack on Lebanon
8:17 Trump threatens Iran
9:45 Trump targets Cuba
10:38 Strait of Hormuz
11:41 Iran toll challenges petrodollar
13:12 Logic behind US blockade
14:01 Scott Bessent threatens China
15:31 USA targets China's oil supply
16:29 China condemns US blockade
17:06 Dangers of escalation
18:38 Chinese tankers
20:37 China's oil reserves
21:11 China's supply chain shocks
22:59 Trump wants leverage
24:09 The US is losing the war
26:25 Iran's message to Trump
27:45 Outro

The US government has pushed for years for a war with China, selling billions of dollars of weapons to separatists in Taiwan. However, those plans are falling apart, after the leader of the KMT, the Nationalist Party based in Taipei, took a historic trip to the mainland, promoting peace. Ben Norton explains the importance of Cheng Li-wun's meeting with Xi Jinping, and the complex political history of Taiwan.

VIDEO: https://www.youtube.com/watch?v=fiDtfdBYHBQ

Topics
0:00 KMT leader visits Beijing
1:28 US "prickly porcupine" strategy
2:09 KMT, Chinese Nationalist Party
2:48 Taiwan's ruling party DPP
3:27 Nancy Pelosi visit
4:17 Taiwan's DPP supports Israel
4:42 Fears of new Ukraine
5:22 US war plans
6:22 US arms sales to Taiwan
7:09 USA uses Taiwan as proxy
8:12 (CLIP) KMT leader on Ukraine
9:08 Is Taiwan the next Ukraine?
9:28 Elections results in 2024
10:12 Lai Ching-te is unpopular
10:54 Iran war hurts Taiwan
11:48 Energy crisis
12:27 TSMC and advanced chips
13:45 Neoliberalism
14:10 Developmental state
14:54 Economic insecurity
15:14 Trump tariff threats
15:48 Beijing does not want war
17:12 Beijing opposes separatism
18:06 UN: Taiwan is part of China
18:50 One China policy
19:46 Map of Taiwan recognition
20:05 List of Taiwan recognition
20:45 Cross-strait relations
22:19 Rising trade
23:13 One country, two systems
24:31 US military bases
24:58 Peaceful reunification
25:27 Poll: Taiwan independence
26:09 Future leader of Taiwan?
26:48 Divisions within KMT
27:27 Modern history of Taiwan
29:05 Chiang Kai-shek
29:41 Democracy?
30:46 Cold War One propaganda
31:39 Sun Yat-sen
34:40 Historic step for peace
36:14 Outro