Are Semiconductors The New Oil? ...Middle East

OILPRICE - Economy
Are Semiconductors The New Oil?
source : OILPRICE ( Middle East ) () 14
Before the United States’ shale revolution, the terms of the world’s geopolitical structure were almost entirely dictated by oil production in the Middle East. The politically tumultuous region had a near-complete chokehold on the world’s petroleum production, resulting in world leaders who previously couldn’t have pointed out the Arabian peninsula on a map suddenly kowtowing to Saudi heads of state. In the early years of the cold war, under the influence of energy security anxieties, U.S. president issued a guarantee of…

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