Upstream

Oil is much more than just a source of energy—it’s a commodity that has shaped—and has been shaped—by the forces of capitalism perhaps more so than any other commodity. The story of oil is one of monopoly capitalism, one of imperialism, one of cheap labor, resource extraction, ecosystem devastation, climate change, assassinations, environmental disasters, genocides—the list goes on. Oil is the commodity which not just lubricates the actual, literal machinery driving the system—but which also lubricates the entire process of U.S. imperialism—the blood flowing through the empire’s many tentacles wrapped around the globe. As today’s guest has written, “Oil's centrality stems from what it does for the imperatives of accumulation: its ability to accelerate and expand capital's turnover, cheapen the costs of production (including labor), and knit together an international market. No other commodity plays this role.” Adam Hanieh is a Palestinian professor at the Institute for Arab and Islamic Studies at the Universi