The famous adage, "Control oil and you control nations; control food and you control people," is often linked to former US Secretary of State Henry Kissinger. For decades, this has quietly shaped America's approach to the world. While Washington publicly champions democracy and human rights, a closer look at its actions reveals a relentless pursuit of one commodity: crude oil. This quest is not merely about energy but is the bedrock of US financial power through the petrodollar system.
The Petrodollar: Fueling American Supremacy
Since the 1970s, global oil trade has been conducted almost exclusively in US dollars. This forces all nations to hold vast reserves of dollars, effectively subsidising the American economy and allowing it to sustain massive deficits. Losing grip on global oil would shatter this financial control mechanism. The foundation for this strategy was laid in 1945 aboard the USS Quincy, where President Franklin Roosevelt and Saudi King Abdulaziz forged an "oil-for-security" pact. This deal guaranteed US access to Saudi oil in exchange for protecting the royal family, setting a precedent for future interventions.
The pattern became starkly clear in 1953 when the CIA orchestrated a coup in Iran. The democratically elected Prime Minister, Mohammad Mossadegh, was overthrown shortly after he moved to nationalise the country's oil industry. The message was unambiguous: control over petroleum resources took precedence over national sovereignty.
Military Doctrine: Protecting the Oil Lifeline
By the 1980s, oil security was formally enshrined in US military policy. The Carter Doctrine explicitly stated America would use military force to protect its interests in the Persian Gulf. This doctrine was tested in 1991 during the Gulf War. While publicly framed as liberating Kuwait, a core strategic objective was to prevent Saddam Hussein from controlling 20% of the world's oil.
A decade later, the 2003 invasion of Iraq, justified by claims of weapons of mass destruction, followed the same script. The war failed to establish a strong, independent Iraq but succeeded in privatising the state-owned oil sector, opening doors for Western energy corporations.
Venezuela: The Latest Target in a Century-Old Playbook
Even as the US became a net oil exporter through its shale revolution, its drive to control global reserves continues. This brings us to the current focus: South America. Venezuela possesses the largest proven oil reserves in the world, surpassing even Saudi Arabia according to OPEC estimates. The US has employed severe sanctions and diplomatic pressure against the Maduro government, citing authoritarianism.
However, historical context suggests a deeper motive. The escalating threat of military action against Venezuela, despite calls for dialogue, appears to be the latest chapter in the same old story. The goal is to ensure that the vast resources of the Orinoco Belt cannot be used by an adversary to challenge the supremacy of the US dollar or Western energy security.
As history has shown in Tehran and Baghdad, the smoke over Caracas obscures a simple truth. These conflicts are rarely about democracy or people. At their core, they are about oil, and only oil – the ultimate currency of global power.
