Helen Thompson: “The Complex History of Energy and Geopolitics“ | The Great Simplification #98

(Conversation recorded on October 30th, 2023) Show Summary: On this episode, political economist Helen Thompson and Nate discuss how energy and geopolitics have interconnected over the past century, building to the entangled political relationships we see around us today. The dynamics of power on a global scale are complex - stemming from access to energy, financial control, military strength, credibility/trust, and much more - yet we can understand these a bit better by learning the history that shaped them. How have geologic provinces of energy dense carbon created inherent hot spots on the geopolitical playing field? How has the global monetary system and debt evolved to strengthen the power of a select few countries and how difficult is it to break from this system? Do our leaders have the capability/knowledge to connect energy and geopolitical policy in order to guide us through a future of declining energy availability? About Helen Thompson: Helen Thompson is Professor of Political Economy at Cambridge since 1994. Her current research concentrates on the political economy of energy and the long history of the democratic, economic, and geopolitical disruptions of the twenty-first century. She is a regular panelist on Talking Politics and a columnist for the New Statesman. She is a co-presenter of UnHerd’s podcast, These Times and recently published Disorder: Hard Times in the 21st Century. For Show Notes and More visit: 00:00 - Guest highlight 00:24 - Guest introduction 01:52 - How did Helen become interested in her work? 04:37 - Overview of Helen’s new book: Disorder: Hard Times in the 21st Century 07:21 - Is the political science field energy blind? 10:29 - The Suez Crisis and potentiality of a future one 14:38 - The importance of the Suez Canal and the Strait of Hormuz 17:36 - Is there a parallel between the Abraham Accords and Iran potentially feeling less relevant? 21:26 - Could the Middle East countries’ aversion to the West unite them in a conflict? 24:06 - How is energy at the center of this conflict 27:12 - What is the most hopeful outcome of the current situation? 28:30 - Explanation of the complex situation in the Middle East 30:40 - History of U.S. relations with the Middle East 36:36 - Biden’s policy 38:40 - BRICS available oil exports 42:36 - Can the rest of the world put sanctions on the U.S. without affecting their own economies? 44:57 - Israel-Hamas situation and energy 50:19 - Teaching 51:00 - How energy allowed Britain and Germany to become key powers in Europe 57:47 - Could there be war in the future fighting for renewable energy? 1:01:10 - Can the Global North and West create agreements with the countries in which important metals reside for renewable energy? 1:06:09 - Is U.S. dollar-denominated debt strong enough to hold geopolitical sway even if the petrodollar is in decline? 1:12:18 - What really underpins the strength, ubiquity, and confidence in the U.S. dollar? 1:14:50 - Was the Ukraine invasion about energy or territorial? How did Crimea fit into this strategy? 1:21:46 - How did Europe become so dependent on Russian oil and natural gas? 1:30:10 - Where does the UK stand in this? 1:32:41 - If Israel evicts the Palestinian populations from Gaza and the West Bank, will Arab governments collectively respond, and what would be the implications? 1:35:14 - How much do end time prophecies around various religious groups play into this situation? 1:36:47 - Will energy insecurity push nations towards green energy? 1:40:32 - Helen’s advice for UK political leaders 1:42:02 - Could the political leaders be educated on energy and the systemic story? 1:44:22 - Self education 1:47:48 - Helen’s advice for listeners 1:49:40 - Helen’s advice for young adults 1:52:16 - Helen’s advice for graduate students 1:55:36 - What Helen cares most about 1:57:49 - Helen’s magic wand