Oil economy and multipolarism

Oil economy and multipolarism

Oil , which is regarded off the charts and market in a couple of decade. But it’s role is still regulating the power and position of super-power and future ones. In the past, it had caused Pearl harbour attack and finally led to entry of America in World war 2 and bombing of Hiroshima and Nagasaki with most deadly weapon ever be used in the history of wars “atom bombs” and killing of millions of lives as well as affecting their descendents. During world war 2 japan had the shortage of oil for the operation of its frigates and fighter jets. In order to fulfil that requirement , it started annexing the south east asian nations and small island colonies of European nations. Presence of American navy in that region always imposed danger in the minds of japan war-analysts. And to establish their monopoly in the Hawaii region , they attacked pearl harbour that led to the entry of America from allied sides. The bombing of japan with atom bomb was also regarded as retort to pearl harbour and to establish its supremacy.

After world war 2, then came the cold war between the US and USSR. This gave rise to Taliban “the greatest ever challenge before the UN and world peace” ; gulf war “another war sought as a oil war” ; and many other wars like Vietnam and other small retaliations. US which was ensuring its future needs for oil by consuming most of gulf oil and preserving its own reserves always with aim of occupying most of oil fields in the gulf by hook or crook. USSR on the other hand has reasonably greater amount of reserves and moving on path of rapid economic progress following the line of communism and socialism. But due to internal crisis among the states of USSR and economic and personnel losses incurred in war against Taliban and Chechnya caused the splitting of USSR.

Now, in present times where US has the supremacy and China is giving tough competition to that supremacy(again a communist state) Oil is still the deciding factor. US who has now taken almost full control over the gulf oil through war on Iraq, having its allies in Saudi Arabia and Kuwait. And efforts are on for Iran in the name of nuclear arms proliferation. On the other hand, china whose indigenous oil production is not in par with its oil demand has to import oil from gulf and central Asian states like Kazakhstan , Uzbekistan and Russia. While importing from gulf , china has to has friendly relations with US and also need to act as per his interest up to some extent. But now, with the signing of SCO “shanghai cooperation organization” and construction of ESPO “eastern Siberia to pacific ocean” pipeline for crude oil and gases export to china through ports of east Russia under the agreement of $100 billion with china. There is also a pipeline project for gases in line which may become operational by 2011-12. This will not only reduce Chinese dependency on US and gulf states but also provide economic boost to Russia who still has the largest oil reserve in its Siberian region. With the harvesting of that oil reserve and signing of pacts by Russia with its former allies of central asian nations regarding the export and import of crude oil and petroleum products Russia will soon rise in par with the china and US. But till now we have seen Unipolarism and bipolarism , now is the turn of multipolarism and what it results?