At the hastily convened global oil summit in Jeddah, Saudi Arabia on June 28, top officials of producing and consuming nations from around the world attempted to find a combination of solutions that would somehow extricate us from the current crisis over sky-high energy prices. These proposals ranged from increased output by major producers like Saudi Arabia and Kuwait to restrictions on the activities of international oil speculators.
This essay originally appeared in TomDispatch, a website run by Tom Engelhardt and associated with The Nation magazine.
This essay was drawn from FPIF columnist Michael T. Klare’s new book Rising Powers, Shrinking Planet: The New Geopolitics of Energy, published by Metropolitan Books
While the economic contraction is apparently slowing in the advanced industrial countries and may reach bottom in the not-too-distant future, it’s only beginning to gain momentum in the developing world, which was spared the earliest effects of the global meltdown. Because the crisis was largely precipitated by a collapse of the housing market in the United States and the resulting disintegration of financial products derived from the “securitization” of questionable mortgages, most developing nations were unaffected by the early stages of the meltdown, for the simple reason that they possessed few such assets.
“We have to decide, as a nation, whether our need for Middle Eastern oil is more important to our future than our conduct as a moral and ethical people.” Which brave presidential candidate would lay it on the line so clearly? None yet. And that’s the problem with the national debate on the war in Iraq, and possibly, our foray into Iran as well.
With over 1400 local events, the April 14 National Day of Climate Action offered a national wakeup call, with citizens in every state raising their voices. But even as we build on this powerful day to move forward, we need to talk about why it’s been so hard for Americans to recognize the climate issue’s urgency.
Wayne Gilchrest is a Republican Congressman from Maryland. He chairs the House Climate Change Caucus and has co-sponsored the Climate Stewardship Act designed to reduce greenhouse gas emissions by 2050 to 70% below 1990 levels. Because of his reluctance to deny human responsibility for climate change, Gilchrest was not chosen by Republican leader John Boehner to serve on the recently formed bipartisan Select Committee on Energy Independence and Global Warming. At the end of March, FPIF contributor Michael Shank interviewed Gilchrest in Washington, DC about Kyoto, the congressional tipping point for climate change legislation, and the challenges posed by India and China.
The transfer of current U.S. Ambassador Zalmay Khalilzad from his job as the Great Wizard of Iraq’s embattled Emerald City in Baghdad’s Green Zone, to the quieter but no less complicated halls of the United Nations, may have several rationales.