Arab Petro Politics

First Published in 1984, Arab Petro-Politics argues that oil is important to Arab world both as an instrument for economic development and as an element of political influence. Oil has changed the political and economic structures and policies in the Middle East and dramatically influenced political alignments both within the region and between the region and the world’s greatest powers. The book seeks to explain Arab oil policy both in economic terms and as political leverage to support Arab demands. Its main thesis is that the oil crisis is inextricably part of the Arab Israeli conflict despite the tendency amongst Western Middle East specialists to separate oil question from the Palestinian issue. This book is an important historical document for scholars and researchers of international oil economics, Middle East politics, and Middle East history.

In this fascinating history of the discovery, development, and exploitation of Middle East oil, an international journalist tells a largely unknown story rich in drama, conflict, and comic interludes. Illustrations.

Examines the myths of unfair oil prices, Israel and oil, obscene corporate profits, divestiture, international energy agency, and OPEC cohesion and provides specific recommendations for a sound energy policy.

The environmental, the economic - and indeed the political - impact of the catastrophic 2010 blowout of BP's well in the Gulf of Mexico has highlighted the central part played by oil in the modern world. The fate of millions now depends on the ever-shifting value of petroleum and on the fortunes of the corporations that deliver it. The story of oil - how it came to play such a dominant role in the world economy, who controls its extraction, pricing and supply - is essential to an understanding of contemporary world politics. In this acclaimed book, Francisco Parra draws on his long experience in the oil world, including as the Secretary General of OPEC, to tell it. Oil Politics surveys the tumultuous history of the international petroleum industry, from its extraordinary growth between 1950 and 1979, presided over by the seven major oil companies, to the price revolution of the 1970s and 1980s, to the re-emergence of Russia as an important but uncertain supplier. Parra charts the changing power dynamics amongst the major oil suppliers and examines their relationships with the major oil importing countries, and how these concerns have impacted on foreign policy. Oil politics in the twenty-first century remain fraught with tensions, and this book offers a uniquely accessible guide to understanding this complex but vitally important subject. "Francisco Parra's long service in the oil industry and his rare intellectual capabilities make him an authority on this subject. [His] book is a must." - Dr F J Chalabi, Executive Director, Centre for Global Energy Studies. "Few in the industry can match the variety of Parra's experience. This is a world-class book and a must for all those interested in international oil policies and politics, and a good read as well." - Nordine Ait-Laoussine, former Algerian Minister of Oil "This is a splendid volume: erudite; lucid; forthright; full of insight; and a rollicking good read, to boot...Frank Parra has written a tour-de-force, a thinking man's 'Prize'" - International Atomic Energy Agency Journal

For many years, vertical integration characterized the international oil industry, with the same company controlling the entire process from crude exploration and production to the retailing. This structure was radically transformed in the 1970s and this book, originally published in 1984, examines whether the dis-integration which resulted was a long-term trend or a temporary phase. It examines the attitude of the major international oil companies, discusses the policies adopted by oil producing and oil importing countries, and the limits of ‘government to government’ deals underlined. The political and strategic implications of re-integration are explored, and relations between oil exporters and importers, and between the USA, Europe and the Arab world discussed.

First Published in 1984, Arab Petro-Politics argues that oil is important to Arab world both as an instrument for economic development and as an element of political influence. Oil has changed the political and economic structures and policies in the Middle East and dramatically influenced political alignments both within the region and between the region and the world’s greatest powers. The book seeks to explain Arab oil policy both in economic terms and as political leverage to support Arab demands. Its main thesis is that the oil crisis is inextricably part of the Arab Israeli conflict despite the tendency amongst Western Middle East specialists to separate oil question from the Palestinian issue. This book is an important historical document for scholars and researchers of international oil economics, Middle East politics, and Middle East history.

The 1983 collapse of world oil prices revived memories of a time only a decade earlier when the price of a barrel of oil did not exceed three dollars. By the late 1970s, spot market prices had reached peaks of forty dollars a barrel. A major role in creating these new realities was played by the 1973/1974 Arab oil embargo, which formed the psychological, political, and market conditions for the dramatic price surge. This important study probes the embargo in detail, thoroughly examining its history, the motivations that caused it, and its ripple effect on world politics and the international economic order. The authors carefully examine the interruption of oil supplies to Western Europe during the 1956 Suez Canal crisis, the growing momentum of Arab oil leverage beginning with the First Arab Petroleum Congress in 1959, the decline of the oil companies' domination of the petroleum industry, and the Arab political environment between the 1967 Arab defeat and the 1973 Arab oil embargo. The book concludes with a chapter addressing the lessons to be learned from these recent embargoes.