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Oil as a determinant of social, political and economic history of the United States from 1981 to the present

Posted on May 1, 2015 by admin

 “It will not allow the two northern Gulf states to recover, knowing that they would immediately seek to build up new production facilities to rival Saudi Arabia’s.  Both Iraq and Iran (although Iran to a lesser degree) have the reserves to challenge the Saudis’ leadership role in OPEC; what they lack are production facilities. That retarding the accumulation process for these two is the true aim of Dual Containment, Washington will not admit.  An alternative would be to confess to the public that it is acting for purely economic motives—Iraq and Iran must be held down if the oil price is to remain low. But this would invite Americans to reconsider the problem of oil, and, whenever this occurs, the results are problematic.” (Pelletière, 2001, p.223)

Works Cited:

Buchanan, Paul G. “That the Lumpen Should Rule: Vulgar Capitalism in the Post-industrial Age.” Journal of American and Comparative Cultures 23.4 (2000): 1+.

James Hamill, “The United States, Iraq, and international relations; part one: the backdrop to conflict.” Contemporary Review 282.1649 (June 2003): 326(8).

O’Neill, Peter. “Will hydro win the great game? Competition between Russia and China is driving tens of billions of dollars of investment into the hydro sector across the former Soviet republics…” International Water Power & Dam Construction 58.11 (Nov 2006): 14(3)

“Power games; Energy security”, The Economist (US) 378.8459 (Jan 7, 2006): 13US.

Pelletière, Stephen. Iraq and the International Oil System : Why America Went to War in the Gulf /. Westport, CT: Praeger, 2001. Retrieved from <http://books.google.co.in/books?id=EQ1cpB65KR4C&lpg=PP1&dq=Iraq+and+the+International+Oil+System&pg=PP1&redir_esc=y#v=onepage&q&f=false>

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