Oil and the American Century: The Political Economy of U.S. Foreign Oil Policy, 1941-1954
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Oil and the American Century examines the evolution of U.S. oil policies in the 1940s and 1950s and traces the sources and consequences of the partnership that developed between government and business to regulate the world oil economy. David S. Painter explains how early attempts to develop and implement a foreign oil policy were hampered by conflicting concepts of the proper relationship of the government to an industry whose operations were increasingly vital to national security and economic welfare. The policy that evolved was based on a combination of private initiative and government support for the foreign operations of the oil companies. This intermingling of private and public concerns safeguarded the interests of U.S. corporations in Mexico, Saudi Arabia, Venezuela, and Iran while enhancing the United States' incentives to control world oil reserves, maintain the security and stability of the Middle East, combat economic nationalism in Latin America, and contain the Soviet Union.
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