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First Published in 2002. Oil is of strategic significance. The bulk of the earth''s known oil reserves, more than 70 percent, is concentrated in the Persian Gulf area. And although alternative energy sources have been vigorously pursued, the United States continues, since 1970, to import from the Persian Gulf 24 percent of needed oil for her own consumption. Since this study was completed thirty years ago there have been several major events related to the control of the flow of Gulf oil. This work narrates the history of the world''s power struggle over the control of oil in the Persian Gulf from the time of the signing of the earliest oil concessions in 1901 until 1971.
The discovery of abundant oil supplies in the Persian Gulf sent many countries, including the U. S. and the former Soviet Union, scrambling for their stake. This international struggle for the control of the Arab oil fields forms the basis of this book, beginning with the earliest successful oil concession in 1901. Following through the 1970s, the author examines the issues and events leading up to the formation of OPEC, and the changes which the industry followed.
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