In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers including US shale oil out of the market. Over the next year, crude oil prices crashed, with large repercussions for the...

Oil, US empire, and the Middle East -- The road to the oil shock -- Pursuing petrodollar interdependence -- The triangle to the Nile -- The petrodollar economy -- Visions of petrodollar promise and peril -- Reform and revolt -- Revolution and invasions -- Recoveries and crises -- End of an era.