Is Chips the New Oil?

https://www.shacknews.com/article/133762/intel-semiconductor-chips-new-oil-gas#:~:text=News-,Intel%20CEO%20says%20CPU%20and%20GPU%20chips%20are%20the%20new,%22the%20next%205%20decades.%22

https://www.google.com/search?client=avast-a-1&q=computer+chips+are+the+new+oil&oq=Is+chips+the+new+oil&aqs=avast.3.69i57j0l6j69i61.17854j0j15&ie=UTF-8 

Everyone agreed that OIL was king in the second half of the 20^th Century. This product enabled the emergence of several Middle East countries to position of importance in the world since the global economy depended heavily on its availability. However, with the emergence of the digital economy in the 21th century a shift in emphasis began to take place. Microchips and Integrated Circuits begin to permeate every aspects of our global civilization. From communication via smart phones and e-mail to the ever present GPS in our automobile and other transportation systems, the production of chips start to replace the importance of oil in the global economy. But while oil production is geography dependent, production of chips does not respect national boundaries and is only knowledge dependent. Currently the Taiwan Semiconductor Manufacturing Company (TSMC) produces 90% of the advanced chips used all over the world (Note 1: Because of the Bamboo ceiling at Texas Instrument prevented Morris Chang the CEO spot, he returned to Taiwan and founded TSMC). However, TSMC has material sources and factories all over the world in Taiwan, Mainland China, the US, and elsewhere. Unlike oil it is not geography-dependent.