Oil and New Imperialism: Foundations of Global Hegemony

The article analyzes the role of crude oil as the material foundation of global hegemony, rejecting simplified theories of corporate greed in favor of capital accumulation theory. The author points out that control over energy resources and key transport routes, such as the Strait of Hormuz, allows for the management of the global economy and the disciplining of rivals. Oil is not merely a commodity, but a political tool that links capitalist logic with territorial projection of power. Despite the ongoing energy transition, raw materials remain a key node of dependency, and the 'free market' for energy in reality relies on military escort and strategic infrastructure, making geopolitics an immutable element of the struggle for global dominance.