Crude Power: Politics and the Oil Market (Library of International Relations)

"Oil has transformed the world and remains the most important resource of our age. It has made the wealth of millions of people - from Venequela to Norway via the Persian Gulf - and holds their futures in its fortunes. In the current political climate of the Middle East and Central Asia, where anti-Americanism runs high and the threat of terrorism in such countries as Saudi Arabia has left the world economy very nervous, oil is of prime geopolitical concern. "Crude Power" provides a comprehensive analysis of the world's dependency on Middle Eastern oil, and of the very dangerous way politics and economics play themselves out in the oil game - as producers and consumers tug at each others' interests. Oystein Noreng places OPEC (the Organization of Petroleum Exporting Countries), into its wider world context, and examines in detail how shifting oil prices affect everything from international trade balances to inflation rates."--Bloomsbury Publishing. Many people in the world today believe Bush's war against Saddam Hussein is only about oil. Iraq has the second biggest petroleum reserves in the Middle East, and America's relations with its prime supplier Saudi Arabia have turned sour in the wake of 9/11. Invading Iraq, so many argue, is merely colonising an oil field. Oil has transformed the world and remains the most important resource of our age. It has made the wealth of millions of people - from Venezuela to Norway via the Persian Gulf - and holds their futures in its fortunes. The Middle East is the earth's greatest petroleum depot. It is also the most explosive region in the world today. Now more than ever, with the global economy under severe threat, oil is of prime geopolitical concern. Crude Power provides a comprehensive analysis both of the world's dependency on Middle Eastern oil, and of the very dangerous way politics and economics play themselves out in the oil game - as producers and consumers tug at each others' interests. It is a tug of war: Oystein Noreng explains what all concerned are fighting for. Placing OPEC (the Organisation of Petroleum Exporting Countries) into its wider world context, he examines in detail how shifting oil prices affect everything from international trade balances to inflation rates. In the current political climate of the Middle East and Central Asia, with anti-Americanism and the threat of terrorism in such countries as Saudi Arabia running high, oil holds the future of the world economy as well as thousands of lives in its hands. Crude Power is an indispensable book for anyone concerned with the fate of the world today, and that most important of issues: the interplay of power and money in the Middle East and beyond. Many people in the world today believe Bush's war against Saddam Hussein was only about oil. Iraq has the second biggest petroleum reserves in the Middle East, and America's relations with its prime supplier Saudi Arabia had turned sour in the wake of 9/11. Invading Iraq, so many argue, was merely colonising an oil field. Oil has transformed the world andremains the most important resource of our age. It has made the wealth of millions of people - from Venezuela to Norway via the Persian Gulf - and holds their futures in its fortunes. The Middle East is the earth's greatest petroleum depot. It isalso the most explosive region in the world today. Now more than ever, with the global economy under severe threat, oil is of prime geopolitical concern. Crude Power provides acomprehensive analysis both of the world's dependency on Middle Eastern oil, and of the very dangerous way politics and economics play themselves out in the oil game - as producers and consumers tug at each other's interests. Placing OPEC (the Organisation of Petroleum Exporting Countries) into its widerworld context, he examines in detail how shifting oil prices affect everything from international trade balances to inflation rates. In the current political climate of the Middle East and Central Asia, with anti-Americanism and the threat ofterrorism in such countries as Saudi Arabia running high, oil holds the future of the world economy as well as thousands of lives in its hands. Crude Power is an indispensable book for anyone concerned with the fate of the world today, and that most important of issues: the interplay of power and money in the Middle East and beyond

in The Current Political Climate Of The Middle East And Central Asia, With Anti-americanism And The Threat Of Terrorism In Such Countries As Saudi Arabia Running High, Oil Will Impact The World Economy As Well As Thousands Of Lives In The Future. This Is An Indispensable Book For Anyone Concerned With The Fate Of The World Today, Especially The Interplay Of Power And Money In The Middle East And Beyond.

Annotation. In the current political climate of the Middle East and Central Asia, with anti-Americanism and the threat of terrorism in such countries as Saudi Arabia running high, oil will impact the world economy as well as thousands of lives in the future. This is an indispensable book for anyone concerned with the fate of the world today, especially the interplay of power and money in the Middle East and beyond Cover Contents List of Figures Preface Introduction 1. The Necessity of Oil 2. Foreign Powers and Middle Eastern Oil 3. Oil Supplies, OPEC, Oligopoly and Politics 4. The Political Economy of Oil Prices 5. The Persistent Political Risks Notes Appendix Bibliography Index