Arab Oil And Money
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Author | : David M. Wight |
Publisher | : Cornell University Press |
Total Pages | : 360 |
Release | : 2021-07-15 |
Genre | : Political Science |
ISBN | : 1501715747 |
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 | : Aileen Keating |
Publisher | : Prometheus Books |
Total Pages | : 560 |
Release | : 2012-05-25 |
Genre | : Business & Economics |
ISBN | : 1615925384 |
In this fascinating history of the discovery, development, and exploitation of Middle East oil, an international journalist tells a largely unknown story rich in drama, conflict, and comic interludes. Illustrations.
Author | : Bradley Hope |
Publisher | : Hachette UK |
Total Pages | : 362 |
Release | : 2020-09-01 |
Genre | : Business & Economics |
ISBN | : 0306846659 |
From award-winning Wall Street Journal reporters comes a revelatory look at the inner workings of the world's most powerful royal family, and how the struggle for succession produced Saudi Arabia's charismatic but ruthless Crown Prince Mohammed bin Salman, aka MBS. 35-year-old Mohammed bin Salman's sudden rise stunned the world. Political and business leaders such as former UK prime minister Tony Blair and WME chairman Ari Emanuel flew out to meet with the crown prince and came away convinced that his desire to reform the kingdom was sincere. He spoke passionately about bringing women into the workforce and toning down Saudi Arabia's restrictive Islamic law. He lifted the ban on women driving and explored investments in Silicon Valley. But MBS began to betray an erratic interior beneath the polish laid on by scores of consultants and public relations experts like McKinsey & Company. The allegations of his extreme brutality and excess began to slip out, including that he ordered the assassination of journalist Jamal Khashoggi. While stamping out dissent by holding 300 people, including prominent members of the Saudi royal family, in the Ritz-Carlton hotel and elsewhere for months, he continued to exhibit his extreme wealth, including buying a $70 million chateau in Europe and one of the world's most expensive yachts. It seemed that he did not understand nor care about how the outside world would react to his displays of autocratic muscle—what mattered was the flex. Blood and Oil is a gripping work of investigative journalism about one of the world's most decisive and dangerous new leaders. Hope and Scheck show how MBS' precipitous rise coincided with the fraying of the simple bargain that had been at the head of US-Saudi relations for more than 80 years: oil, for military protection. Caught in his net are well-known US bankers, Hollywood figures, and politicians, all eager to help the charming and crafty crown prince. The Middle East is already a volatile region. Add to the mix an ambitious prince with extraordinary powers, hunger for lucre, a tight relationship with the White House through President Trump's son in law Jared Kushner, and an apparent willingness to break anything—and anyone—that gets in the way of his vision, and the stakes of his rise are bracing. If his bid fails, Saudi Arabia has the potential to become an unstable failed state and a magnet for Islamic extremists. And if his bid to transform his country succeeds, even in part, it will have reverberations around the world. Longlisted for the Financial Times & McKinsey Business Book of the Year Award
Author | : David M. Wight |
Publisher | : Cornell University Press |
Total Pages | : 234 |
Release | : 2021-07-15 |
Genre | : Political Science |
ISBN | : 1501715739 |
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 | : Anthony Cave Brown |
Publisher | : |
Total Pages | : 438 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : 9780395592205 |
Played out against a background of war and the turmoil of an ancient culture thrust abruptly into the twentieth century, the struggle to control the flow of Saudi oil was won by the United States, which emerged as the dominant Western power in the Middle East."--BOOK JACKET.
Author | : Todd Moss |
Publisher | : CGD Books |
Total Pages | : 190 |
Release | : 2015-06-10 |
Genre | : Business & Economics |
ISBN | : 1933286695 |
Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
Author | : Andrew Duncan |
Publisher | : Garden City, N.Y. : Doubleday |
Total Pages | : 390 |
Release | : 1979 |
Genre | : Business & Economics |
ISBN | : |
Author | : F. Gregory Gause |
Publisher | : Council on Foreign Relations |
Total Pages | : 262 |
Release | : 1994 |
Genre | : History |
ISBN | : 9780876091517 |
This timely book demystifies the politics of Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates, and Oman, and focuses on the new pressures that have emerged since the Gulf War. Gause illuminates the foreign policy tightrope these states walk in the Middle East: self-defense is problematic, regional pressures translate directly into the domestic arena, and relations with the United States cause as well as solve many problems. Gause examines the interplay of Islamic fundamentalism, tribalism, and, most importantly, oil wealth that has determined the power structure of the Gulf monarchies. He shows what influences really drive politics in the Middle East as well as how U.S. foreign policy must respond to them in order to forge more meaningful ties with each country and preserve the stability of a fragile region that is vital to U.S. interests.
Author | : Andrew Scott Cooper |
Publisher | : Simon and Schuster |
Total Pages | : 544 |
Release | : 2012-09-11 |
Genre | : Business & Economics |
ISBN | : 1439155186 |
Relying on a rich cache of previously classified notes, transcripts, cables, policy briefs, and memoranda, Andrew Cooper explains how oil drove, even corrupted, American foreign policy during a time when Cold War imperatives still applied, and tells why in the 1970s the U.S. switched its Middle East allegiance from the Shah of Iran to the Saudi royal family. Amid the oil shocks of the early 1970s, there was one man the U.S. could rely on: the Shah of Iran. The Shah sold us oil; we sold him weapons. But the U.S. and other industrialized economies could not tolerate repeated annual double digit increases in oil prices. During the 1976 election campaign, President Gerald Ford decided that he had to find a country that would break the OPEC monopoly and sell the U.S. oil more cheaply. On the advice of Treasury Secretary William Simon -- and against the advice of Secretary of State Henry Kissinger -- Ford made a deal to sell advanced weaponry to the Saudis in exchange for a more moderate price hike in oil. The Shah's economy was destabilized, and disaffected elements mobilized to overthrow him. The U.S. had embarked on a long relationship with the autocratic Saudi kingdom that continues to this day.
Author | : Erin Banco |
Publisher | : |
Total Pages | : 0 |
Release | : 2018 |
Genre | : BUSINESS & ECONOMICS |
ISBN | : 9780997722949 |
"A fascinating and revealing dive into the murky world of oil contracts that shape power and politics in Iraq." -- Loveday Morris, The Washington Post Jerusalem bureau chief Iraq sits on top of more than 140 billion barrels of oil, making it the owner of the world's fifth largest reserves. When the United States invaded in 2003, the Bush Administration promised that oil revenue would be used to rebuild and democratize the country. But fifteen years later, those dreams have been shattered. The Iraqi economy has flatlined, millions of people are internally displaced, and international institutions have had to provide billions of dollars in assistance to the country every year. Where did all the oil revenue go? Reporter Erin Banco traveled to oil-rich Iraqi Kurdistan--an autonomous region that holds, according to the regional government, some 45 billion barrels of crude--to uncover how widespread corruption, tribal cronyism, kickbacks to political parties, and the war with ISIS have contributed to the plundering of Iraq's oil wealth. The region's economy and political stability have been on the brink of collapse, and local people are suffering. Based on court documents and on exclusive interviews with sources who have investigated energy companies and their dealings with government officials, Pipe Dreams is a cautionary tale that reveals how the dream of an oil-financed, American-style democracy in Iraqi Kurdistan now looks like a completely unrealistic fantasy.