Comment by Gibbon1
2 days ago
It's more banal than that. Oil you have to pay for. Which for most countries you need to constantly come up with foreign currency. If you have a financial crisis like hot money flees you end up at the mercy of the world banking systems mafia enforcers the IMF.
With solar and electrified transport and industry? Can't pay the loans for the solar panels? Sucks for the saps that loaned you the money. Come and take them.
Come on, be serious. The IMF doesn't break anyone's legs. The worst they can do is refuse to loan you any more money. Any sovereign state is free to balance their own budget and tell the IMF to GTFO.
This is currently more or less true, but historically speaking, sovereign default has often been used as a casus belli for invasion; that's where the Monroe doctrine comes from, after all. The collapsing Pax Americana is arguably the reason we haven't seen it happen in decades, so it would be unsurprising to see it start to happen again.
And of course financial considerations are often a first-order consideration in military conflict even today.
That most counties need to import oil and gas to keep the lights on and industry functioning means you don't need to send gunboats of yore. See Smedley Butler's rant. Now when they get in a pickle they need foreign currency. And that's how they get ya.
Renewables however flips things back.
3 replies →