America wants to challenge rogue petrostates
But it cannot squeeze Iran and Venezuela without risking higher oil prices for its own consumers
America has been a superpower for decades. As a superpower in global energy markets, however, it is barely an adolescent. As recently as 2015 it was illegal to export oil. Within ten years the shale boom has transformed it into the world’s biggest producer of crude. No longer must it tiptoe around regimes whose policies it detests but whose oil it craves. President Donald Trump touts an age of “energy dominance”. He has put its burgeoning energy prowess to the test with sanctions on Iran and Venezuela. But dreams of dominance are running into the realities of energy markets.
On April 22nd the American administration announced that no further waivers would be granted to countries importing oil from Iran. “We are going to zero,” declared Mike Pompeo, the secretary of state. Waivers to eight countries, granted in November, were due to expire
Hinter den Kulissen von Big Business.
Sie haben keinen Zugang? Jetzt gratis testen!
- Aktuelle Insider-Geschichten über Strippenzieher, Masterminds und Hasardeure sowie Trends und Analysen aus der Wirtschaft
- Jeden Monat die digitale Ausgabe des manager magazins
- Jede Woche die besten Originaltexte aus „The Economist“
- Ausgewählte Texte aus dem Harvard Business Manager
- Einmal anmelden, überall nutzen – mobil, Web, Tablet, auf allen Ihren Geräten.
- Flexible Laufzeit, jederzeit online kündbar