Are Semiconductors The New Oil? ...Middle East

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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