Caleb Wellum treats the oil shocks of the 1970s as a byproduct of neoliberalism’s Cold War conquest

Caleb Wellum is a professor in the Department of Historical Studies at the University of Toronto Mississauga. He’s also the editor of Energy Humanities and a member of both the Petrocultures Research Group and the After Oil Collective.

As an historian who studies the intersection of energy, culture and political economy in the twentieth century, he’s invested in understanding how natural resource development and especially oil extraction became a force that shapes social reality today. 

The book we talk about in this conversation is called Energizing Neoliberalism: The 1970s Energy Crisis and the Making of Modern America, and it’s an incredible analysis of the role that stories about energy crisis played in creating American neoliberalism, this deregulated, highly individualistic version of capitalism that makes consumerism synonymous with personal fulfilment and the centre of so many political considerations. 

What Wellum is basically saying is that we arrive at where we are today, in terms of our energy habits, the political expediency of warfare, and the expectations we have about lifestyle, comfort and the value of national identity, largely through the high stakes ideological games that were played during the 1970s, and also through some of the cinematic narratives that played out in popular culture at that time. 

Returning to Cold War capitalism through his book was really instructive for me as a way of trying to understand why Trumpism is this triumphalist cultural force in the US right now. We talk about that in relation to his case studies in Energizing Neoliberalism, from the energy conservation debates that happened in the 70s, to the popular car films that were dismissed by critics as appealing only to the duped masses, to the creation of oil futures trading. 

The conversation is an attempt to see how the power of neoliberalism as we know it didn’t have to develop the way it did. By constructing the oil crisis in certain ways, the United States secured a future of endless growth, limitless consumption and fleeting pleasures derived from fossil fuels. More specifically, neoliberal capitalists used the crisis to steer society in a more financialized, deregulated, and ecologically untenable direction. In Wellum’s words, this was a domestic energy crisis imagined in response to global instability. 

As we fight for a clean energy future in the present, against colonial powers launching wars for resources all over the globe, we can gain a lot of lessons from Energizing Neoliberalism’s rigorous effort to recognize petro-populism as a reactionary, violent force.

#fossilfuels #fossilcapital #neoliberalism #1970s #petroleum #historyofcapitalism #financialization #finance #americanism #coldwar #ideology #petropopulism #petromasculinity #petroculture