Tim
2007-09-14 09:40:36
Just a minor point re Saudi. U.S. foreign policy regarding the use Saudi oil to support and stabilize the global economy did not happen until after 1945, though strategic planners began thinking about shifting consumption (especially European & Asian consumption) to Middle Eastern oil in 1942-43. Up through 1945, the U.S. was the worlds’ largest producer of petroleum products, with the Soviet Union second. With U.S. investments starting in the late 40s, particularly after U.S.-Soviet friction over Iran in 47-48, the Saudis very quickly became the source of most petroleum for Europe and Asia during the 1950s.
