With Donald Trump’s decision to shred the Iran nuclear agreement, announced last Tuesday, it’s time for the rest of us to start thinking about what a Third Gulf War would mean. The answer, based on the last 16 years of American experience in the Greater Middle East, is that it won’t be pretty.
The possibility of a new Cold War between Russia and the United States and its NATO allies brings with it the spectre of nuclear war.
As the United States contemplates exporting natural gas to the rest of the world, previously energy-poor Israel seems about to jump on the export bandwagon. The current government is seeking approval to export about 40 percent of the production from its newly discovered offshore natural gas fields.
Last week’s post on the logic of nuclear deterrence in an age of decline got what was, all things considered, a much less irrational response than discussions of nuclear war generally field.
A weekly update, including:
•Oil and the global economy
•The Middle East
•The IEA’s forecast
•Quote of the week