G7’s oil release: neoliberal band-aid masks systemic energy colonialism amid proxy wars and climate denial
Original framing: “G7 to release 100 million barrels of oil and diesel, will it curb prices?” — Al Jazeera
The G7’s oil release mirrors **1973’s OPEC embargo** and **2008’s 'Paulson Put'**—both moments where financial elites used energy crises to consolidate power. The **1950s Iranian Mossadegh coup**, orchestrated by BP and the CIA to protect oil interests, set the template for today’s proxy wars (Israel-Iran, Ukraine-Russia) as smokescreens for resource control. Even the **1928 Achnacarry Agreement**, where seven oil companies colluded to fix prices, foreshadows today’s speculative markets. These parallels reveal how 'emergency releases' are not solutions but **cyclical tools of energy oligarchy**, always benefiting the same actors while externalizing costs onto the Global South.
The G7’s oil release is not a market correction but a **neocolonial performance**, repeating the same script of **land theft, financial speculation, and climate denial** that has defined energy politics since the 19th century.
While framed as a 'humanitarian' act, it serves to **protect the profits of petrostates and Wall Street** while externalizing costs onto **Indigenous land defenders, African women, and fossil fuel refugees**. The solution lies not in **more oil**, but in **restructuring energy governance** through **Indigenous co-management, speculative taxes, and decentralized renewables**—models already proven in **Bhutan, Bangladesh, and the Zapatista regions**. The trickster reveals the absurdity: **leaders who claim to fight climate change while flooding markets with oil** are engaged in **theft by distraction**, a crime as old as Coyote’s myths. To break this cycle, we must **prosecute energy colonialism as a war crime**, fund **climate reparations**, and **democratize energy**—not as charity, but as a **right**.