China Need Not Fear the New American Oil Order
It would be a mistake to think China is in a vulnerable position on oil.
Photographer: Peter Summers/Getty Images
From a certain angle, President Donald Trump is in a matter of weeks doing what other leaders could never have dreamed about: Assembling an oil cartel with the sway to rival OPEC, and giving himself a kill switch for the energy-importing economy of America’s prime geopolitical rival, China.
Combine Trump’s supposed hegemony over the Americas since the capture of former Venezuelan President Nicolás Maduro on Jan. 3 with control over a post-revolution Iran, and you’re at about 42% of global oil production. Add to that the fact that China is the biggest importer of both Venezuelan and Iranian oil, and it looks like Beijing is suddenly vulnerable.