U.S. Foreign Policy Based on Oil

Running Head : U .S . FOREIGN POLICY BASED ON OIL

U .S . Foreign Policy Based on Oil (Your Name (Your School

U .S . Foreign Policy Based on Oil

According to Multinational Oil Corporations and U .S . Foreign (1975 , it was during the Civil War when the oil industry was born in America . The country was the largest producer and exporter of oil in the world and supplied oil which drove Allied Forces to float victory in WWI . The U .S produced more than sixty percent of the world 's oil during the 1920s . It

br was during this time that two fears seized the country 's oil industry The first fear was that the petroleum reserves of the United States would be depleted in the near future . Second , it seemed that domestic oil shortage was imminent , and the possibility of locking out major oil reserves outside America because of foreign interest was also looming (Patrick Forman , 2002 . Royal Dutch Shell and British Petroleum were the primary impediments . An agreement was reached permitting American firms to explore in Netherlands Indies , in exchange for Netherlands being proclaimed a reciprocating state . Miller (1980 ) states that in the wake of the WWII and the looming shortage of oil in the United States , proposals to aid the functioning of companies like Aramco in Saudi Arabia as part of the U .S . foreign policy . The world petroleum production 's centre of gravity had shifted from the Gulf-Caribbean regions to the Persian Gulf and the Middle East area (Ebel...