Week 08 - Video Study Guide

Week 08 - Video Study Guide - Week 8 INTB 3351 History of...

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Week 8 - INTB 3351 History of Globalization Video Study Guide The Prize: Crude Diplomacy Stuff to know: Well number seven stuck oil after almost five years of disappointment, this discovery lead way to an optimistic future for Aramco (Texaco & Socal(Cheveron)). Later two more partners join in Aramco, Esso(Exxon) and Socony Vacuum(Mobil). March of 1938, In Mexico the government expropriates the U.S. and British oil companies, ending an era of exploitations. Companies will understand that there are limits and if government pushes past those limits companies will be punished. This event ends the earlier era of oil. Also Standard Oil has discovered the first oil producing well in Saudi Arabia. This marks the second era of oil, the raise of the Middle East for the major source of production in oil. 1. How did the United States beat out Great Britain in establishing and solidifying the “special relationship” with Saudi Arabia? In 1938 Mexican approbation. Initially, the U.S. depended on Britain to “keep the peace” in the Middle East. They relied on Britain providing stability so that companies and could operate in that environment.
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