The Petro$ and control of a very valuable resource.
The use of the petro$ means that the US can print dollars to pay for price increases in oil. Industrialized countries without oil, such as Japan EU or China, have to export to the US in order to obtain dollars to exchange for Opec oil; for example, cars in the case of Japan. So America gets services and goods (eg cars) in exchange for pieces of paper. Not only that but Opec's excess dollars were then reinvested in the US and other industrialized countries, thus funding the US budget deficit and reducing US interest rates.
It would be a massive blow to lose the petrodollar. If no one bought US$ anymore I wonder how far it would drop in value
It's also all about the ability to control access to the worlds most plentiful source of energy. 50% of the worlds oil is sourced from the M.E.
Americas number one objective in the Middle East: The availability to the US and its allies of resources, the strategic positions and the passage rights and the denial of such rights and resources to the soviet block.
So in 1955 the US sought to control the Gulf, to have the ability guarantee its access and to deny access to others. Oil has not become less important in the prevailing 60 years.
Formally the USSR was the rival and was seen off with the help of Israel, ( It was what proved Israels worth to the US ) Iran was a client. Iran is no longer a client and so currently the US would like to prevent the formation of the a Shiia crescent, with Iran at its head.
This crescent would include the Shiia land in Saudi. This is why Saudi and Iran are implacable enemies. Saudi is a US client for protection against Iran. If you look and Shiia land in Saudi you'll note it sits on top of the big oil fields. "Find Shiia find oil" is a local saying. The Shiia are the potential rivals to US hegemony in the gulf. I should add that the Saudi king is not totally secure on his throne. He rules over conquered lands, land conquered in the 1920's using British weapons. The Shiia, the Nejd, are sleeping giants. ( The the Sauds are given a free hand to crush the Shiia rebellion in Bahrain while rebellion in Syria was encouraged )
Should Iran succeed in creating such an entity this would be a genuine threat to Americas passage rights and strategic positions in the region, which as you will recall is America #1 objective in the M.E.
The US will seek to control the M.E. so long as oil powers the world. Control of this resource is a major plank in the USA's super power status.
I don't think there is a better ally in this ambition to control the gulf than Israel. Israel is a western enclave in the region, is a regional pariah completely dependent on the US for weapons and coverage from UN sanctions and proven ability to kick arab ass. Who would be better?
If you view everything in the M.E. through a Sunni/Shiia/Oil lens all becomes clearer.
The US state dept has called Saudi and the description can be extended to the region “a stupendous source of strategic power, and one of the greatest material prizes in world history.”
Zbigniew Brzezinski former United States National Security Advisor said America's control over the Middle East "gives America indirect but politically critical leverage on the European and Asian economies that are also dependent on energy exports from the region." . George Kennan put is as "Veto power". Truman's Secretary of Defense James Forrestal noted that “whoever sits on the valve of Middle East oil may control the destiny of Europe” and now Asia.
Control the M.E and you have your foot on the windpipe of the European and Asian economies. relinquishing that control is unthinkable. (Having permanent military bases in Iraq makes very good sense in this context ) relinquishing control to an Iranian shiia block /China/ Russia is doubly unthinkable. All other potential rivals have to figure Americas control of the oil flow into their calculations. The USA controls the oil. If the USA decides, say China, will not be getting M.E. oil then it can stop the flow. China knows this, the USA knows this. Thus before things get violent China will have to back down. ( China used for example only )
BTW China is taking steps strengthen the sea route from the Gulf to China, the string of pearls naval ports
