The Power Of Oil

As demand for oil increases, the dependent countries hesitate to antagonize those with ample supply. As a result, developing nations that are oil-rich have discovered newfound power, with oil politics often taking priority over democracy or human rights. For example, Chinese energy interests protect the Sudan from US anger over the massacre in Darfur. Likewise, some Western capitals are reluctant to bring Iran before the UN Security Council, because any sanctions including an oil embargo would damage their own economies. Over the past 70 years, the US led the way in setting ground rules for oil politics, yet now seems surprised by trends that have given developing countries more power. – YaleGlobal