Oil Politics

Book excerpt: "Many international conflicts in the world today revolve around the control of oil - despite the protestations of politicians to the contrary. The unfettered availability of oil at an affordable price is basic to the stability, security and prosperity of all states - not just those in the West. Thus fundamental to any understanding of the politics of the contemporary world is an understanding of the politics and most recent history of petroleum. Francisco Parra sets out the political and economic events which, since the 1950s, have shaped the international petroleum industry and world affairs: the relationships central to continuing conflicts since 1950 between Middle Eastern governments, the big seven major oil companies and the governments of their home countries - the US and Britain; the struggle over oil prices; domination by the international companies; levels of competition and above all the control over oil resources. Parra concludes that more and far greater conflicts loom in the future, all driven by the dependence of the industrial world on the Middle East for oil, OPEC's volatile control over price, uncertainties in Russia and Central Asia and the growing hostility between "Islam and the West"."--Bloomsbury Publishing.