MacroVoices #551 Michael Every: Decoding The Global Geopolitical Puzzle

Geopolitical instability in the Middle East and the ongoing conflict between Russia and Ukraine are driving a potential global diesel crisis, with significant implications for energy markets and national security. The current reliance on integrated global energy systems faces threats from protectionism and state-led coercion, as evidenced by attacks on Russian refineries and the East-West pipeline. Strategic competition between the United States, China, and other global powers is reshaping trade alliances, including a permanent security agreement between the U.S. and Greenland. Meanwhile, rising Treasury yields and a strengthening U.S. dollar are creating volatility across asset classes, pressuring equity valuations and signaling potential funding stresses. Investors must look beyond headline narratives to understand the second and third-order effects of these geopolitical shifts, as energy becomes a primary tool of economic statecraft and national policy.