The importance of oil in us foreign policy

Page was also correct in his description of BP's threat to sue any company which lifted what it considered to be "hot" Iranian oil.

us dependence on foreign oil

PAGE: Yes. Mossadeq directly challenged the Shah, ordered a plebiscite to dissolve Parliament and won more than 99 percent of the votes cast and counted.

By a statement of general principles, the Administration hoped to eliminate the restrictive practices imposed by the British on American companies operating in the Middle East. While official relations with the Arab states suffered somewhat because of U.

What role did oil play in us foreign policy

In addition to oil, U. Open skies agreement is a covenant between the U. Cooperation of all the majors was necessary in order to fit Iranian oil, which had been shut out of world markets during the crisis, back into world markets without disruptive price wars and destabilizing cutbacks in other oil-producing countries. Divisions within the U. During this period, the United States began looking to the shah of Iran as the main guarantor of Western interests in Iran. The State Department interest in the problem is both historic and current. But the major oil companies refused to market its oil, supplying the European markets instead with oil from Saudi Arabia and Kuwait.

InStandard Oil of California SOCALwhich had not been party to the cooperative agreements, obtained a concession on the island of Bahrain, off the coast of Saudi Arabia, and in obtained extensive concession rights in Saudi Arabia.

I urged Rayner to get Byrne's and Acheson's support for asking British Government to join with USA in bringing about the elimination of the Red Line restrictions and Kuwait restrictions as soon as possible. Ironically, the Palestine problem enhanced the status of the major oil companies as vehicles of the national interest in Middle East oil.

On January 14,representatives of Exxon, Mobil, Texaco and Socal met at Aramco's New York headquarters to discuss their alternative strategy for dealing with the restrictive covenants of the Iraq agreement and the pending litigation in London.

Another promising indicator of Iran 's economic potential is its human capital. The fact that Aramco was free to force entry into the markets of the established international majors was not overlooked by Socal, whose studies indicated that Arabian crude oil could compete very effectively in the European and U.

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Multinational Oil Corporations and US Foreign Policy