Crude Capitalism: Oil, Corporate Power, and the Making of the World Market | Prof Adam Hanieh
In this episode of The afikra Podcast, host Mikey Muhanna speaks with Professor Adam Hanieh, author of "Crude Capitalism: Oil, Corporate Power, and the Making of the World Market," to discuss the transformative role of oil in shaping global economics and politics. The conversation delves into the historical context of oil production, including the rise of Standard Oil and the dominance of the Seven Sisters, the emergence of the term "petrodollars," OPEC's influence, and the strategic movements of oil in the global market. The discussion also addresses the implications of oil on geopolitical relations, particularly in the Middle East, the US, and the emerging role of China. Prof Hanieh examines the flawed solutions proposed to address the climate crisis and the ongoing pervasiveness of fossil fuel reliance.
Adam Hanieh is a professor of Political Economy and Global Development at the University of Exeter’s Institute for Arab and Islamic Studies and a Distinguished Research Fellow at Tsinghua University. A leading scholar of Middle Eastern political economy, his work examines Gulf capitalism, class dynamics, and state formation. He is the author of Money, Markets, and Monarchies (2018) and Crude Capitalism: Oil, Corporate Power, and the Making of the World Market (Verso Books, 2024). His research has been widely published, and he holds a Political Economy Fellowship with the Independent Social Research Foundation, while also serving on several editorial and advisory boards.
Hosted by 👉Mikey Muhanna
Theme music: 🔊 Peninsular, Tarek Yamani
The afikra Podcast
The afikra Podcast is our flagship series featuring experts from academia, art, media, urban planning, and beyond, who are helping document and shape the histories and cultures of the Arab world through their work.
