High oil and global politics

October 24, 2007 3:35pm

I’m struggling a bit today. By Wednesday afternoon, I like to have a vague idea of what my column next week will be about. But I’m feeling uninspired. Of course, it is quite likely that there will be a rush of news later this week, which will provide an obvious topic. Last week, for example, by the weekend there were three good subjects – Benazir’s bloody return to Pakistan, the Polish elections, the signature of the new EU treaty. In the end, I ignored them all. But, if required, I’m sure I could have worked anyone of them up into a column of the required standard (β++∕∂-?).

At the moment, I am reduced to reading over my dog-eared list of “ideas for future columns”. The one I feel most like reviving at the moment is the article on what’s wrong with Bono. This got quite a big reaction when I first suggested it on the blog a few weeks ago – so there is an archive of stuff for me to work through. Also, I’ve just been forwarded a new article on celebrities in global politics, which looks promising. But I have had another idea, which at least has the merit of being new – the potential impact of $100 oil on global politics.

What might that be? Here are six ideas:

1) It’s bad for democracy. The pressure for political reform in big oil producers like Russia and Saudi Arabia will decrease. The Russian government will have the money to buy off aggrieved constituencies like pensioners – see the food subsidies they have just announced.

2) America’s current bogeymen – Mahmoud Ahmadi-Nejad and Hugo Chavez will both be feeling richer and more confident. Iranian and Venzuelan oil money will pop up in odd places, like clinics in the Gaza strip and subsidised London buses.

3) Alternative energy will become even more fashionable in the US - "the moral equivalent of war". Except nobody will use that phrase because it is associated with Jimmy Carter.

4) The European Union will get even more antsy about its energy dependence on Russia. But it wont actually do anything.

5) Energy-hungry economies like China will step up their search for new fossil fuels. Expect more dodgy deals with the likes of Burma and Sudan.

6) The struggle over who has sovereignty over the Arctic will intensify.

That’s the best I can do so far: B+, at best, I would say. Does anybody have any fresher ideas on the oil and politics question?