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Money, Oil, and Empire in the Middle East

Money, Oil, and Empire in the Middle East
Author: Steven G. Galpern
Publisher: Cambridge University Press
Total Pages: 0
Release: 2013-07-18
Genre: Political Science
ISBN: 9781107657182

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This book is an important political and economic history of the unravelling of the British Empire and its connection to the decline of sterling as a leading international currency. Analyzing events such as the 1951 Iranian oil nationalization crisis and the 1956 Suez crisis, Steven Galpern provides a new perspective on British imperialism in the Middle East by reframing British policy in the context of the government's postwar efforts to maintain the international prestige of the pound. He reveals the link that British officials made between the Middle Eastern oil trade and the strength of sterling and how this influenced government policy and strained relationships with the Middle East, the United States, and multinational oil firms. In so doing, this book draws revealing parallels between the British experience and that of the United States today and will be essential reading for scholars of the British empire, Middle East studies and economic history.


Oil Money

Oil Money
Author: David M. Wight
Publisher: Cornell University Press
Total Pages: 360
Release: 2021-07-15
Genre: Political Science
ISBN: 1501715747

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In Oil Money, David M. Wight offers a new framework for understanding the course of Middle East–US relations during the 1970s and 1980s: the transformation of the US global empire by Middle East petrodollars. During these two decades, American, Arab, and Iranian elites reconstituted the primary role of the Middle East within the global system of US power from a supplier of cheap crude oil to a source of abundant petrodollars, the revenues earned from the export of oil. In the 1970s, the United States and allied monarchies, including the House of Pahlavi in Iran and the House of Saud in Saudi Arabia, utilized petrodollars to undertake myriad joint initiatives for mutual economic and geopolitical benefit. These petrodollar projects were often unprecedented in scope and included multibillion-dollar development projects, arms sales, purchases of US Treasury securities, and funds for the mujahedin in Afghanistan. Although petrodollar ties often augmented the power of the United States and its Middle East allies, Wight argues they also fostered economic disruptions and state-sponsored violence that drove many Americans, Arabs, and Iranians to resist Middle East–US interdependence, most dramatically during the Iranian Revolution of 1979. Deftly integrating diplomatic, transnational, economic, and cultural analysis, Wight utilizes extensive declassified records from the Nixon, Ford, Carter, and Reagan administrations, the IMF, the World Bank, Saddam Hussein's regime, and private collections to make plain the political economy of US power. Oil Money is an expansive yet judicious investigation of the wide-ranging and contradictory effects of petrodollars on Middle East–US relations and the geopolitics of globalization.


Rulers, Religion, and Riches

Rulers, Religion, and Riches
Author: Jared Rubin
Publisher: Cambridge University Press
Total Pages: 297
Release: 2017-02-16
Genre: Business & Economics
ISBN: 110703681X

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This book seeks to explain the political and religious factors leading to the economic reversal of fortunes between Europe and the Middle East.


Resurrecting Empire

Resurrecting Empire
Author: Rashid Khalidi
Publisher: Beacon Press
Total Pages: 248
Release: 2010-07-01
Genre: History
ISBN: 080700314X

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Begun as the United States moved its armed forces into Iraq, Rashid Khalidi's powerful and thoughtful new book examines the record of Western involvement in the region and analyzes the likely outcome of our most recent Middle East incursions. Drawing on his encyclopedic knowledge of the political and cultural history of the entire region as well as interviews and documents, Khalidi paints a chilling scenario of our present situation and yet offers a tangible alternative that can help us find the path to peace rather than Empire. We all know that those who refuse to learn from history are doomed to repeat it. Sadly, as Khalidi reveals with clarity and surety, America's leaders seem blindly committed to an ahistorical path of conflict, occupation, and colonial rule. Our current policies ignore rather than incorporate the lessons of experience. American troops in Iraq have seen first hand the consequences of U.S. led "democratization" in the region. The Israeli/Palestinian conflict seems intractable, and U.S. efforts in recent years have only inflamed the situation. The footprints America follows have led us into the same quagmire that swallowed our European forerunners. Peace and prosperity for the region are nowhere in sight. This cogent and highly accessible book provides the historical and cultural perspective so vital to understanding our present situation and to finding and pursuing a more effective and just foreign policy.


Empire of Sand

Empire of Sand
Author: Walter Reid
Publisher: Birlinn
Total Pages: 588
Release: 2011-09-01
Genre: History
ISBN: 0857900803

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At the end of the First World War Britain and to a much lesser extent France created the modern Middle East. The possessions of the former Ottoman Empire were carved up with scant regard for the wishes of those who lived there. Frontiers were devised and alien dynasties imposed on the populations as arbitrarily as in medieval times. From the outset the project was destined to failure. Conflicting and ambiguous promises had been made to the Arabs during the war but were not honoured. Brief hopes for Arab unity were dashed, and a harsh belief in western perfidy persists to the present day. Britain was quick to see the riches promised by the black pools of oil that lay on the ground around Baghdad. When France too grasped their importance, bitter differences opened up and the area became the focus of a return to traditional enmity. The war-time allies came close to blows and then drifted apart, leaving a vacuum of which Hitler took advantage. Working from both primary and secondary sources, Walter Reid explores Britain's role in the creation of the modern Middle East and the rise of Zionism from the early years of the twentieth century to 1948, when Britain handed over Palestine to UN control. From the decisions that Britain made has flowed much of the instability of the region and of the world-wide tensions that threaten the twenty-first century. How far was Britain to blame?


The Rise and Fall of Arab Presidents for Life

The Rise and Fall of Arab Presidents for Life
Author: Roger Owen
Publisher: Harvard University Press
Total Pages: 273
Release: 2012-05-15
Genre: Biography & Autobiography
ISBN: 0674065417

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The monarchical presidential regimes that prevailed in the Arab world for so long looked as though they would last indefinitely, until events in Tunisia and Egypt made clear their time was up. This book exposes for the first time the origins and dynamics of a governmental system that largely defined the Arab Middle East in the 20th century.


No War for Oil

No War for Oil
Author: Ivan Eland
Publisher:
Total Pages: 0
Release: 2011
Genre: Business & Economics
ISBN: 9781598130461

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Debunking numerous myths that have emerged about the world's resources of oil, this book argues that the use of U.S. military power to secure oil is not only needless and costly--in both lives and money--but also counterproductive to U.S. security. Intended to make government, the media, and citizens think more rationally about oil and the use of military power to secure it, this account suggests that the free market is still the best vehicle to deliver the product most efficiently from producer to consumer and that a withdrawal of U.S. forces from the Persian Gulf would be beneficial in the context of potential terrorist threats. Thorough and invaluable, this focused analysis chronicles the history of the battle over oil.


Oil and Money

Oil and Money
Author: Andrew C. Hess
Publisher:
Total Pages: 0
Release: 2000
Genre:
ISBN:

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Sleeping with the Devil

Sleeping with the Devil
Author: Robert Baer
Publisher: Crown
Total Pages: 197
Release: 2003-07-15
Genre: Political Science
ISBN: 1400053374

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“Saudi Arabia is more and more an irrational state—a place that spawns global terrorism even as it succumbs to an ancient and deeply seated isolationism, a kingdom led by a royal family that can’t get out of the way of its own greed. Is this the fulcrum we want the global economy to balance on?” In his explosive New York Times bestseller, See No Evil, former CIA operative Robert Baer exposed how Washington politics drastically compromised the CIA’s efforts to fight global terrorism. Now in his powerful new book, Sleeping with the Devil, Baer turns his attention to Saudi Arabia, revealing how our government’s cynical relationship with our Middle Eastern ally and America’ s dependence on Saudi oil make us increasingly vulnerable to economic disaster and put us at risk for further acts of terrorism. For decades, the United States and Saudi Arabia have been locked in a “harmony of interests.” America counted on the Saudis for cheap oil, political stability in the Middle East, and lucrative business relationships for the United States, while providing a voracious market for the kingdom’ s vast oil reserves. With money and oil flowing freely between Washington and Riyadh, the United States has felt secure in its relationship with the Saudis and the ruling Al Sa’ud family. But the rot at the core of our “friendship” with the Saudis was dramatically revealed when it became apparent that fifteen of the nineteen September 11 hijackers proved to be Saudi citizens. In Sleeping with the Devil, Baer documents with chilling clarity how our addiction to cheap oil and Saudi petrodollars caused us to turn a blind eye to the Al Sa’ud’s culture of bribery, its abysmal human rights record, and its financial support of fundamentalist Islamic groups that have been directly linked to international acts of terror, including those against the United States. Drawing on his experience as a field operative who was on the ground in the Middle East for much of his twenty years with the agency, as well as the large network of sources he has cultivated in the region and in the U.S. intelligence community, Baer vividly portrays our decades-old relationship with the increasingly dysfunctional and corrupt Al Sa’ud family, the fierce anti-Western sentiment that is sweeping the kingdom, and the desperate link between the two. In hopes of saving its own neck, the royal family has been shoveling money as fast as it can to mosque schools that preach hatred of America and to militant fundamentalist groups—an end game just waiting to play out. Baer not only reveals the outrageous excesses of a Saudi royal family completely out of touch with the people of its kingdom, he also takes readers on a highly personal search for the deeper roots of modern terrorism, a journey that returns time again and again to Saudi Arabia: to the Wahhabis, the powerful Islamic sect that rules the Saudi street; to the Taliban and al Qaeda, both of which Saudi Arabia helped to underwrite; and to the Muslim Brotherhood, one of the most active and effective terrorist groups in existence, which the Al Sa’ud have sheltered and funded. The money and arms that we send to Saudi Arabia are, in effect, being used to cut our own throat, Baer writes, but America might have only itself to blame. So long as we continue to encourage the highly volatile Saudi state to bank our oil under its sand—and so long as we continue to grab at the Al Sa’ud’s money—we are laying the groundwork for a potential global economic catastrophe.