Conclusion
Conclusion
The War for Exorbitant Privilege
This chapter summarizes the book’s main conclusions. It argues that in the short term, the U.S. emerged victorious in the war on terror since the peg between energy sales and the dollar remains, and the euro has faded as a competitor. However, the enormous cost of the war on terror, and the credibility the U.S. lost by adopting the light footprint strategy, suggests that the war on terror resulted in long term damage to the U.S. Moreover, the U.S. is facing increasing competition from China and other states for control of the global energy market. This may cause the U.S. to double down on the war, even as it continues to drain American resources and cost American lives.
Keywords: hegemony, power transition, commitment problems, oil, petrodollar, terrorism, insurgency
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