Via Guernica, Michael Klare argues that that’s what the giant energy companies are aiming for:
The “curse” of oil wealth is a well-known phenomenon in Third World petro-states, where millions of lives are wasted in poverty and the environment is ravaged while tiny elites rake in the energy dollars and corruption rules the land. Recently, North America has been repeatedly hailed as the planet’s twenty-first-century “new Saudi Arabia” for “tough energy”—deep-sea oil, Canadian tar sands, and fracked oil and natural gas.
Here, then, is the energy surprise of the twenty-first century: with operating conditions growing increasingly difficult in the global South, the major firms are now flocking back to North America. To exploit previously neglected reserves on this continent, however, Big Oil will have to overcome a host of regulatory and environmental obstacles. It will, in other words, have to use its version of deep-pocket persuasion to convert the United States into the functional equivalent of a Third World petro-state.
Read the rest at Guernica.
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