Politics of oil: multinational oil corporations and United States foreign policy, 1941-1954

Thesis/Dissertation · Fri Jan 01 04:00:00 EST 1982

OSTI ID:5227067

Painter, D S

The energy crises of the 1970s highlighted the importance of foreign oil to United States security and prosperity and focused attention on the relationship between multinational oil corporations and United States foreign policy. Important roots of present problems reach back to the period 1941 to 1954 when United States policymakers became aware that the nation's historic self-sufficiency in oil would soon come to an end. This realization led to plans to assure United States access to foreign oil reserves. During the early years of this period, the oil industry and its allies in congress defeated attempts by the government to play an active role in foreign oil matters. With the government's role limited, the United States fell back to its traditional policy of supporting the foreign operations of United States corporations. Although this policy minimized government intervention in the internal operations of the oil industry, it nevertheless required the government to become actively involved in maintaining the security and stability of the Middle East and in working to contain economic nationalism in Latin America. Moreover, the policy resulted in the government acquiescing in private arrangements by the major companies to control the world oil economy. The most important factor shaping public policy on foreign oil was the overall hegemony of business in American society.

• OSTI ID: 5227067
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
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FOREIGN POLICY
GOVERNMENT POLICIES
INDUSTRY
INSTITUTIONAL FACTORS
MULTINATIONAL ENTERPRISES
NORTH AMERICA
PETROLEUM INDUSTRY
POLITICAL ASPECTS
USA