Geopolitical Economy Report US war on Iran isn't just about Israel; it's mainly about oil and dollar dominance
Mar 13, 2026
A geopolitical take on why the US pressures Iran, arguing control of Middle East oil and defense of dollar dominance drive policy. Discussion covers the Strait of Hormuz, petrodollar history, dedollarization moves like BRICS and yuan oil sales, and how energy and finance shape global power struggles.
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Trump Official Boasts 'We Are Going To Get All Of The Oil'
- Jared Ogin, Trump's National Energy Dominance Council director, openly said the U.S. intends to "get all of the oil" from Iran.
- Norton cites the Fox News interview as evidence the Trump administration publicly frames the campaign as oil acquisition.
Dollar Dominance Is The Core U.S. Power
- The dollar's global reserve status is the U.S.'s most powerful geopolitical weapon because it can print the currency the world needs.
- Norton explains this enables unilateral sanctions and exclusion from systems like SWIFT to economically cripple rivals like Iran and Russia.
De-Dollarization Threatens U.S. Exorbitant Privilege
- De-dollarization by countries like China, Russia, and Iran threatens U.S. 'exorbitant privilege' by reducing global dollar demand.
- Norton notes Iran joined BRICS and proposed a new unit of account while trading oil in renminbi with China.