Aug 31, 2000 dramatic narrative, arresting analysis and original research are combined in this book, which addresses the history of one of the world s biggest oil businesses between 1950 and 1975. The politics of oil revolves around its price and the reliability of its suppliers. Oil powered the economic explosion of the 20th century. For an environmental history of the oil industry, see brian c. International oil companies 45 jeanfrancois sezncc 5 the policy implications of peak oil 60 laurel graefe 6 conflict and. Oil and democracy oil and politics books, art, culture. Iraq, afghanistan, venezuela, ukraine and more by foster, john isbn. Oil and world politics the real story of todays conflict zones.
William engdahl takes the reader through the history of how seven giant oil companies five american and two british developed a controlling grip on the world s economy unprecedented in history. It infiltrates politics and is closely associated with power. Home browse books book details, politics and world oil economics. The wall street journal publishes a column every week in which an author lists the five best books on a particular subject.
This view probably understates the importance of international agreements. Lee lane on what the oil and gas boom means for americas geopolitical standing. Certainly gives you a totally different view of how oil and gas effects world politics. Nov 30, 2009 the story of oil how it came to play such a dominant role in the world economy, who controls its extraction, pricing and supply is essential to an understanding of contemporary world politics. Oil has been unique as a vital resource owing to its pervasiveness in the civilian economy and its continuing centrality to military power, and maintaining access to the great oilproducing areas of the world has been a key goal of u. Whats oil production got to do with national security. The peril and politics of radical religion, oil and borrowed money in the 21st century by. The middle east plays a major role in world politics in relation to oil.
Yet in the countries with most of the world s oil, it is part of a zerosum game of power, in which relative gains trump absolute ones and economics is often subordinated to politics. Money, politics and power in the 21st century 2010. This book is a gripping account of the murky world of the angloamerican oil industry and its hidden role in world politics. All of the required books are being put on reserve at the pcl. Nigerias oil crude politics middle east and africa the. The importance of oil to the modern world is unique in character and incredibly farreaching in scope. Everyday low prices and free delivery on eligible orders. Nigerias oil crude politics middle east and africa. With the sudden rise in importance of oil matters, myths regarding the. This new era is also marked by dramatically improved technology and a shift from government control to government and industry cooperation.
How corporations and governments addicted the world to oil 2008 tom bower, oil. Iraq and the politics of oil is a fascinating behindthescenes account of the role of the us government in the iraqi oil sector since 2003. It is among the most secretive oil groups in the world, and is accountable to no one, says inemo samiama, country. This book offers new understanding of what has been happening in worlds. Aug 07, 2015 the seven books you must read if you want to understand oil. Despite the differences between oil politics today and those of. Find the top 100 most popular items in amazon books best sellers. In much of the world, in other words, oil is part of positivesum economic operations. Oil, land, and politics by william henry hutchinson, 1965, university of oklahoma press edition, in english 1st ed. Recommended readings about the oilenergy industry jeffrey baaderet al. One may argue three lawlike generalizations in political science. How cheap oil raises political risks in saudi arabia cnbc. As competition continues for a vital resource, the strategic calculations of major and minor countries alike place prominent emphasis on the pumping, refining, transport, sale and use of petroleum products. Of the world total oil reserves of 1,200 bn barrels, gulf reserves represented 743bn barrels.
His data show how the importance of oil will persist, if not increase, in the near. Oil has emerged as the most potent weapon within the global economy and has increasingly been instrumental in designing the world politics and international relations. An analysis of the international political economy of oil since wwii felix kruse masters thesis business. It is characterized by open access to resources not only in the persian gulf, where most of the world s oil is located, but elsewhere in the world as wellespecially the caspian sea basin. Yet the politics of oil still follow the logic of politics, and in the united states that implies a battle between two or more rival coalitions. How cheap oil raises political risks in saudi arabia. It is a singularly autonomous variable in the world economy, just as, if not more potent and influential than federal reserve decisions, the eurodollar exchange rate, conditions in the u. Legacy, lessons, lasting reverberations, viewpoints special edition august 2009 note.
And opec controls nearly twothirds of the worlds oil. Phil vienna department of political science delta state university, abraka, nigeria abstract the discovery of crude oil in nigeria led to the neglect of agriculture that was the mainstay of the economy. Aug 21, 2010 the wall street journal publishes a column every week in which an author lists the five best books on a particular subject. Petroleum politics have been an increasingly important aspect of diplomacy since the rise of the petroleum industry in the middle east in the early 20th century. Jan 01, 2003 the politics of oil revolves around its price and the reliability of its suppliers. With the hunger the world has for the need for oil and the. This page features all the best peak oil books as well as books about the politics of peak oil, alternative energy sources as they relate to peak oil peak energy, and general books about energy that would be of interest to those interested in peak oil. The second section zeroes in on the different types of violence that pervade the oil fields of the niger delta and draws out the divisive power of crude oil by holding up sudan as a country divided by oil and which has created a myriad of fissures in nigeria. In a politics of oil edition of truth, politics and power, host neal conan asks about the tradeoffs in the oil and gas glut, about how it changes politics around the world and whether it will delay any transition to clean sources of energy, and thus accelerate the catastrophe of climate change.
Mar 23, 2017 specific plans include floating a small stake in saudi aramco, the worlds largest oil company, creating the worlds largest sovereign wealth fund to enable investment in new sectors of the economy, and increasing the role and number of women in the economy. Gulf, where most of the worlds oil is located, but elsewhere in the world as wellespecially the caspian sea basin. With this range of people and the hunger for money it can and does cause people to do thins they might not do if they were not in the situations that present themselves. Feb 28, 2012 the story of oil how it came to play such a dominant role in the world economy, who controls its extraction, pricing and supply is essential to an understanding of contemporary world politics. Gasoline prices in the united states went down about 10. Conflict interpretations do not always provide all sides of a story which can effect our judgments accordingly.
The story of oil how it came to play such a dominant role in the world economy, who controls its extraction, pricing and supply is essential to an understanding of contemporary world politics. Yet in the countries with most of the worlds oil, it is part of a zerosum game of power, in which relative gains trump absolute ones and economics is often subordinated to politics. Nov 24, 2014 where oil and politics mix by deborah sontag nov. An account of the international oil industry in its political environment. Oil does hurt democracy, says ross moreover, oil does greater damage to democracy in poor states than in rich ones, and a given rise in oil exports will do more harm in oilpoor states than in oilrich ones. Dramatic narrative, arresting analysis and original research are combined in this book, which addresses the history of one of the worlds biggest oil businesses between 1950 and 1975. This book offers new understanding of what has been happening in world s. The new politics of oil abundance national affairs. Data shows that that the us is continuing to manipulate world oil prices in an effort to hinder oil producing countries, not in line with us foreign policy. Oil has been unique as a vital resource owing to its pervasiveness in the civilian economy and its continuing centrality to military power, and maintaining access to the great oil producing areas of the world has been a key goal of u.
In this acclaimed book, francisco parra draws on his long experience in the oil world, including as the secretary general of opec, to tell it. The relationship between the us and saudi arabia has. The story of oil how it came to play such a dominant role in the world economy. Oil does hurt democracy, says ross moreover, oil does greater damage to democracy in poor states than in rich ones, and a given rise in oil exports will do more harm in oil poor states than in oil rich ones. Story by jeb sharp, pris the world the history of modern civilization has been largely written in oil. In turn, many international conflicts in the world today are rooted in these politics. As of friday, the price of crude oil dropped 2 percent as the us has boosted domestic oil.
Politics of oil supply 1 1 introduction 3 robert looney 2 key issues surrounding the supply of oil 10 paul sullivan 3 the changing geopolitics of oil 30 michael t. Vogler describes the prewar oil planning and the important decisions made during hostilities to get iraqi oil flowing several months ahead of schedule. Iraq, afghanistan, venezuela, ukraine and more petroleum is at the root of most conflicts in the world today. The result is that today the world is awash with oil simply because the demand for it has gone down. Bulk of the world oil reserves are discovered in the middle east and according to the british petroleum business data, the gulf oil reserves in 2005 accounted for 62 per cent. Transparency and accountability for sustainable development in the niger delta esekumemu victor clark, d. T o understand the geostrategic importance of the new reserves, we must closely. No debate on the multinationals can avoid dealing with the oil majors. It is characterized by open access to resources not only in the persian gulf, where most of the worlds oil is located, but elsewhere in the world as wellespecially the caspian sea basin.
The petroleum industry is among the most lucrative and most important in the world, and its impact within the realm of international politics is tremendous although it can be overstated. Importance of oil and how it has changed world politics. An account of the international oil industry in its political environment 1962. Assessing bps comparative performance, the book focuses on how bp responded politically, economically and culturally to the rise of new competitors, the decline of britains imperial power, and. Reflection on the nature of peace is also bound up with considerations of the causes for its absence or loss. Read the fulltext online edition of politics and world oil economics. The oil industry has a massive effect on global politics and as demand and oil prices have increased, politicians have been taking extreme measures in securing. Peter maass articles five best books on oil the wall. The christian science monitor is an international news organization that delivers thoughtful, global coverage via its website, weekly magazine, online daily edition, and email newsletters. Importance of oil to the global community global journal of.
A modern history of petroleum to be released late october 2009 the 1979 oil shock legacy. After the end of the war the strategic importance of oil became imminent to the world leaders. Not only do they dominate all the lists of corporate giants, but they are a. A further dramatic decline in oil prices will have a revolutionary impact on world politics and the international economy of a magnitude tantamount to that of the oil price increases in 197374 and 197980. Like russia, saudi arabia has tightened its grip on domestic politics as the oil price has fallen and its foreign policy has become more assertive. All of the required books are being put on reserve at.
The oil majors in world politics louis turner n o debate on transnational relations can ignore the issue of the power of the multinational companies mncs. Its potentials have also shaped in terms of magnitude and scale so much so that it is fast becoming a strong determinant of world order. Buy the politics of the global oil industry annotated edition by genova, ann, falola, toyin isbn. Although this may not directly answer your question, i would argue that two books in particular may be of use for a wellrounded view of the topic. An analysis of the international political economy of oil since wwii. World is not running out of oil in a literal sense, as when oil production will stop there will still be the presence of the resource underground, however, it wont be economically feasible to extract it. The seven books you must read if you want to understand oil.
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