Columbia Energy Exchange How Economic Warfare Impacts Energy
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Feb 11, 2025 Eddie Fishman, a senior research scholar at the Center on Global Energy Policy and adjunct professor at Columbia University, discusses the rise of economic warfare. He explores how recent U.S. tariffs and sanctions against countries like China and Russia have reshaped global relations. The conversation also touches on the evolution of economic strategies from the War on Terror to today's geopolitical tensions, the impact of the shale revolution on oil markets, and the potential decline of the U.S. dollar amid emerging currency systems.
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Bush's Iran Challenge
- After 2004 reelection, George W. Bush administration faced the challenge of Iran's nuclear program.
- Public was against another Middle Eastern war after Iraq.
Levy's Financial Sanctions
- Stuart Levy at the Treasury Department developed a new approach to sanctions, targeting financial links instead of entire countries.
- This approach used "choke points" in the global economy.
Secondary Sanctions
- Secondary sanctions threaten foreign entities doing business with sanctioned entities.
- This makes it hard for global banks to choose as it risks being cut off from the US financial system.
