Ex Super Power? Can This Be True?

Who\'s Got the Stick and Who the Carrot?

Asia Times Online published an article on May 10, 2008 entitled “An oil-addicted ex-superpower.” The American author, Michael T. Klare, Five Colleges professor of Peace and World Security Studies, makes a chillingly convincing case for the fact that the United States’ massive borrowing to pay for its oil habit has already cost them their superpower status.

The fact is, says Klare, America’s wealth and power has long rested on the abundance of cheap petroleum. The United States was, for a long time, the world’s leading producer of oil, supplying its own needs while generating a healthy surplus for export.

From the end of World War II through the height of the Cold War, the US claim to superpower status rested on a vast sea of oil.

But those times are long past, according to Klare. Continue reading