View: Oil is the world’s new oyster

The current crisis in West Asia hangs by a fine balance — and held by the stability of oil prices. That alone makes it possible for several countries like India to hold their nerve for the time being. But will that continue to be the case? The US, as of now, seems to be indicating that it will ensure that it will remain this way.

Oddly, this is exactly the sort of guarantee many would have not expected US President Donald Trump to offer, given his political stand against Washington’s burdening global responsibilities that accrue no benefit to the American people. That’s the logic which informs his government’s approach to draw down US military presence across the globe. It forms the basis of his protectionist approach to trade, to China, and develop ‘America First’ options.