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Author: Fiona Venn
Publisher: Routledge
ISBN: 1317884000
Category : History
Languages : en
Pages : 231
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Book Description
In October 1973 two crises – one economic, one political – intersected, with dramatic and long term consequences for international relations. On 6 October, Egypt and Syria launched an attack on Israel, and within a few days the major Arab oil producers announced their support by use of the ‘oil weapon’, including a boycott of supplies for countries friendly to Israel and a programme of production cuts. This was followed by the unilateral declaration of a steep increase in the price of oil by the Organization of Petroleum Exporting Countries (OPEC). The result was international panic and world recession. Crude oil prices soared by a massive fourfold in just three months. The West's vulnerability had been exposed: it was being held hostage to oil. Yet, despite efforts to address this dependence on oil imports in following years, the 1979 Iranian Revolution triggered a further upward surge in prices. Today, the importance of oil remains at the forefront of the West's foreign policy calculations in the Middle East. In this fascinating and timely new look at the oil crisis, Fiona Venn examines these issues and the more unexpected effects of the crisis. She asks just how much really changed in the economic balance of power. Most importantly she argues that OPEC was used as a scapegoat for the world recession, which had been already underway when the crisis detonated.
Author: Fiona Venn
Publisher: Routledge
ISBN: 1317884000
Category : History
Languages : en
Pages : 231
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Book Description
In October 1973 two crises – one economic, one political – intersected, with dramatic and long term consequences for international relations. On 6 October, Egypt and Syria launched an attack on Israel, and within a few days the major Arab oil producers announced their support by use of the ‘oil weapon’, including a boycott of supplies for countries friendly to Israel and a programme of production cuts. This was followed by the unilateral declaration of a steep increase in the price of oil by the Organization of Petroleum Exporting Countries (OPEC). The result was international panic and world recession. Crude oil prices soared by a massive fourfold in just three months. The West's vulnerability had been exposed: it was being held hostage to oil. Yet, despite efforts to address this dependence on oil imports in following years, the 1979 Iranian Revolution triggered a further upward surge in prices. Today, the importance of oil remains at the forefront of the West's foreign policy calculations in the Middle East. In this fascinating and timely new look at the oil crisis, Fiona Venn examines these issues and the more unexpected effects of the crisis. She asks just how much really changed in the economic balance of power. Most importantly she argues that OPEC was used as a scapegoat for the world recession, which had been already underway when the crisis detonated.
Author: Stockholm International Peace Research Institute
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 216
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Book Description
Author: Jeffrey Herf
Publisher: Cambridge University Press
ISBN: 1316517969
Category : History
Languages : en
Pages : 519
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Book Description
A new account of support for and opposition to Zionist aspirations in Palestine in the United States and Europe from 1945 to 1949.
Author: Duco Hellema
Publisher: Amsterdam University Press
ISBN: 9053564853
Category : History
Languages : en
Pages : 321
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Book Description
This incisive study examines the role of the Netherlands in the October War and the oil crisis of 1973. The authors contend that the actions of the Dutch government were hypocritical: the Dutch government faced a domestic crisis when an oil embargo was levied against them by Arab countries for selling arms to Israel; yet after oil began arriving again two months later, the Dutch rejected a proposal for a stricter interventionist energy policy within the European Union. A probing and thought-provoking study, The Netherlands and the Oil Crisis draws on previously unavailable archival sources to shed new light on a pivotal moment in contemporary Dutch history.
Author: Rüdiger Graf
Publisher: Berghahn Books
ISBN: 1785338072
Category : History
Languages : en
Pages : 474
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Book Description
In the decades that followed World War II, cheap and plentiful oil helped to fuel rapid economic growth, ensure political stability, and reinforce the legitimacy of liberal democracies. Yet waves of price increases and the use of the so-called “oil weapon” by a group of Arab oil-producing countries in the early 1970s demonstrated the West’s dependence on this vital resource and its vulnerability to economic volatility and political conflicts. Oil and Sovereignty analyzes the national and international strategies that American and European governments formulated to restructure the world of oil and deal with the era’s disruptions. It shows how a variety of different actors combined diplomacy, knowledge creation, economic restructuring, and public relations in their attempts to impose stability and reassert national sovereignty.
Author: David M. Wight
Publisher: Cornell University Press
ISBN: 1501715747
Category : Political Science
Languages : en
Pages : 360
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Book Description
In Oil Money, David M. Wight offers a new framework for understanding the course of Middle East–US relations during the 1970s and 1980s: the transformation of the US global empire by Middle East petrodollars. During these two decades, American, Arab, and Iranian elites reconstituted the primary role of the Middle East within the global system of US power from a supplier of cheap crude oil to a source of abundant petrodollars, the revenues earned from the export of oil. In the 1970s, the United States and allied monarchies, including the House of Pahlavi in Iran and the House of Saud in Saudi Arabia, utilized petrodollars to undertake myriad joint initiatives for mutual economic and geopolitical benefit. These petrodollar projects were often unprecedented in scope and included multibillion-dollar development projects, arms sales, purchases of US Treasury securities, and funds for the mujahedin in Afghanistan. Although petrodollar ties often augmented the power of the United States and its Middle East allies, Wight argues they also fostered economic disruptions and state-sponsored violence that drove many Americans, Arabs, and Iranians to resist Middle East–US interdependence, most dramatically during the Iranian Revolution of 1979. Deftly integrating diplomatic, transnational, economic, and cultural analysis, Wight utilizes extensive declassified records from the Nixon, Ford, Carter, and Reagan administrations, the IMF, the World Bank, Saddam Hussein's regime, and private collections to make plain the political economy of US power. Oil Money is an expansive yet judicious investigation of the wide-ranging and contradictory effects of petrodollars on Middle East–US relations and the geopolitics of globalization.
Author: Rachel Bronson
Publisher: Oxford University Press
ISBN: 0199728887
Category : History
Languages : en
Pages : 368
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Book Description
For fifty-five years, the United States and Saudi Arabia were solid partners. Then came the 9/11 attacks, which sorely tested that relationship. In Thicker than Oil, Rachel Bronson reveals why the partnership became so intimate and how the countries' shared interests sowed the seeds of today's most pressing problem--Islamic radicalism. Drawing on a wide range of archival material, declassified documents, and interviews with leading Saudi and American officials, and including many colorful stories of diplomatic adventures and misadventures, Bronson chronicles a history of close, and always controversial, contacts. She argues that contrary to popular belief the relationship was never simply about "oil for security." Saudi Arabia's geographic location and religiously motivated foreign policy figured prominently in American efforts to defeat "godless communism." From Africa to Afghanistan, Egypt to Nicaragua, the two worked to beat back Soviet expansion. But decisions made for hardheaded Cold War purposes left behind a legacy that today enflames the Middle East. Looking forward, Bronson outlines the challenges confronting the relationship. The Saudi government faces a zealous internal opposition bent on America's and Saudi Arabia's destruction. Yet from the perspective of both countries, the status quo is clearly unsustainable.
Author: Jordan J. Paust
Publisher:
ISBN:
Category : Petroleum industry and trade
Languages : en
Pages : 72
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Book Description
Author: Pierre Terzian
Publisher: London : Zed Books ; Totowa, N.J., USA : Distributor, Biblio Distribution Center
ISBN:
Category : Petroleum industry and trade
Languages : en
Pages : 382
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Book Description
Author: Yaakov Katz
Publisher: Macmillan + ORM
ISBN: 1250088348
Category : Technology & Engineering
Languages : en
Pages : 289
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Book Description
"A lively account of Israel's evolving military prowess...if The Weapon Wizards were a novel, it would be one written by Horatio Alger; if it were a biblical allegory, it would be the story of David and Goliath." —The New York Times Book Review From drones to satellites, missile defense systems to cyber warfare, Israel is leading the world when it comes to new technology being deployed on the modern battlefield. The Weapon Wizards shows how this tiny nation of 8 million learned to adapt to the changes in warfare and in the defense industry and become the new prototype of a 21st century superpower, not in size, but rather in innovation and efficiency—and as a result of its long war experience. Sitting on the front lines of how wars are fought in the 21st century, Israel has developed in its arms trade new weapons and retrofitted old ones so they remain effective, relevant, and deadly on a constantly-changing battlefield. While other countries begin to prepare for these challenges, they are looking to Israel—and specifically its weapons—for guidance. Israel is, in effect, a laboratory for the rest of the world. How did Israel do it? And what are the military and geopolitical implications of these developments? These are some of the key questions Yaakov Katz and Amir Bohbot address. Drawing on a vast amount of research, and unparalleled access to the Israeli defense establishment, this book is a report directly from the front lines.
