Crude Awakenings: Global Oil Security and American Foreign Policy

Crude Awakenings: Global Oil Security and American Foreign Policy

by Steve A. Yetiv
     
 

ISBN-10: 080147650X

ISBN-13: 9780801476501

Pub. Date: 03/28/2010

Publisher: Cornell University Press

"The real story of global oil over the past twenty-five years is not about the spillover effects of Palestinians fighting Israelis, or terrorist attacks on U.S. forces in Saudi Arabia and Yemen, or Iraq's stormy relationship with Kuwait. It is not even about periodic small- and large-scale U.S. attacks on Iraq. Rather, the real story is about longer-term

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Overview

"The real story of global oil over the past twenty-five years is not about the spillover effects of Palestinians fighting Israelis, or terrorist attacks on U.S. forces in Saudi Arabia and Yemen, or Iraq's stormy relationship with Kuwait. It is not even about periodic small- and large-scale U.S. attacks on Iraq. Rather, the real story is about longer-term developments that have changed the international relations of the Middle East, politics at the global level, and world oil markets. These developments have increased oil stability."—from the Introduction

Thirty years after OAPEC shattered world markets for oil, the Western world remains profoundly dependent on foreign, particularly Middle Eastern, sources of petroleum. U.S. political rhetoric is suffused with claims about the vulnerability caused by this dependence. Hence, many political analysts assume that a search for stability of petroleum supplies is an important element of contemporary American foreign policy.

Steve A. Yetiv argues that common assumptions about oil markets are wrong. Although prices remain volatile, Yetiv's account portrays a world market in petroleum products far more benign and predictable than the one to which we are accustomed. In Crude Awakenings, he identifies and analyzes real and potential threats to the global energy supply, including wars, revolutions, coups, dangerous alliances, oil embargoes, Islamic radicalism, and transnational terrorism. However, he also shows how some of these threats have been mitigated and how global oil security has been reinforced.

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Product Details

ISBN-13:
9780801476501
Publisher:
Cornell University Press
Publication date:
03/28/2010
Pages:
248
Product dimensions:
6.00(w) x 8.90(h) x 0.70(d)

Table of Contents

1Introduction1
2Threats to Saudi stability20
3Power shifts41
4The chief guarantor of oil stability59
5The United States in the Middle East before and after September 1177
6The Cold War and global interdependence97
7The China factor121
8The oil weapon139
9Multiple cushions for oil shocks151
10Oil market dynamics and OPEC178
11Global oil, high technology, and the environment193
12Twenty-first-century threats to global oil stability207
AppThe Middle East and global energy : a chronology, 1973-2003230

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