Eland, director of the Center on Peace & Liberty at The Independent Institute, surveys the history of the struggle to control oil-supplies in the Middle East over the last hundred years, and debunks several myths about oil. The material is divided into four sections; the first is historical and looks mainly at wars, economic organizations and policy on oil. In the second, the author interrogates eleven different claims about everything from peak oil and the circumstances surrounding its extraction and trade. They range from concerns about peak oil to the strategic importance of oil to whether the USA should become independent of oil to the equation of oil with economic and political power. The last two sections argue against using military power to secure oil as imperialistic and offer free-market policy prescriptions. Distributed by Independent Publishers Group. Annotation ©2012 Book News, Inc., Portland, OR (booknews.com)
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 costlyin both lives and moneybut 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.
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1 | (8) |
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PART I A History of Oil and the Use of Military Power to Control Supplies |
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9 | (84) |
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2 American Dominance in Oil |
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11 | (3) |
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3 Iran, Iraq, World War I, and the Interwar Years |
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14 | (8) |
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22 | (6) |
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28 | (10) |
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6 Three Cartels: The Seven Sisters, the Texas Railroad Commission, and OPEC |
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38 | (4) |
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7 Another Middle East War and Embargo, Shortages, and Price Rises |
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42 | (13) |
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55 | (5) |
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9 The 1980s: European Dependence on Soviet Energy and the Iran-Iraq War |
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60 | (5) |
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65 | (21) |
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86 | (7) |
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PART II Myths about Oil and Its Market |
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12 Myth 1: No Viable Market Exists for Oil |
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13 Myth 2: "Big Oil" Colludes with OPEC to Stick Consumers with High Prices |
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100 | (4) |
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14 Myth 3: Global Oil Production Has Peaked and the World Is Running Out of Oil |
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104 | (7) |
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15 Myth 4: Oil Is a Special Product or Even Strategic |
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111 | (5) |
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16 Myth 5: A Strategic Petroleum Reserve Is Needed in Case of Emergency |
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116 | (5) |
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17 Myth 6: The United States Should Become Independent of Oil, Foreign Oil, or Overseas Energy |
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121 | (13) |
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18 Myth 7: Oil Price Spikes Cause Economic Catastrophes |
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19 Myth 8: U.S. Policy Is to Maintain the Flow of Oil at the Lowest Possible Price |
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136 | (2) |
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20 Myth 9: Possession of Oil Means Economic and Political Power |
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138 | (2) |
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21 Myth 10: The United States Must Defend Autocratic Saudi Arabia Because of Oil |
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140 | (4) |
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22 Myth 11: Dependence of Europe on Russian Energy Is a Threat to U.S. Security |
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144 | (5) |
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PART III No Need to Use Military Power to Safeguard Foreign Oil |
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149 | (36) |
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23 Safeguarding Oil with Military Power Is Mercantilism and Imperialism |
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151 | (9) |
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24 Threats to or from Oil |
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160 | (25) |
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PART IV Policy Prescriptions |
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185 | (8) |
Notes |
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193 | (10) |
Index |
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203 | (12) |
About the Author |
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Ivan Eland is a senior fellow and director of the Center on Peace and Liberty at the Independent Institute, a former director of defense policy studies at the Cato Institute, and a former principal defense analyst with the Congressional Budget Office. He is the author of The Empire Has No Clothes, Partitioning for Peace, and Recarving Rushmore. His work has been featured in numerous publications, including the Chicago Tribune, Northwestern Journal of International Affairs, and the Washington Post, and on television programs such as ABC's World News, CNN's Crossfire, and Fox News. He lives in Washington, DC.