Wk 10 Reading Studyguide Questions

Wk 10 Reading Studyguide Questions - INTB 3351 History of...

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INTB 3351 History of Globalization Reading Study Guide Anthony Sampson, The Seven Sisters , pp. 104-166 Week 10 1. How and why did the American oil companies, Socal (Chevron) and Texaco, gain the oil concession in Saudi Arabia, as opposed to the other major oil companies? Why was the ruler of Saudi Arabia eager to do business with the Americans? (pp. 104-109) In that time, BP had found oil in Iran, the sheikh promised not to discuss oil concessions without British approval. But BP at that time had quite enough oil in Iran and Iraq, showed no interest in the prospect of oil in Bahrain. Then Holmes went to the US to sell Bahrain. Holmes offered the rights to Exxon for 50000 but Teagle rejected it, then Holmes approached Gulf, Gulf sent out geologist Ralph Rhodes and soon confident that it would yield oil, but they were unable to go-ahead on their own concession as they are members of the Iraq Petroleum Company, they had only recently undertaken not to explore inside the Red Line-which included Bahrain-without the other members. Gulf tried to interest the others, but the geologists of BP resist that there will no oil in Bahrain. Then they offer the deal to Socal, who were outside the red line agreement, they bought the bargain option from Gulf for $50000, they had some difficulties with British government but state department intervened, restrictions were modified. 2. What were the “two opposite foreign policies” of the United States in the Middle East? What was the U.S. State Department’s solution? (pp. 119-125)
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3. How and why were the major U.S. oil companies able to avoid criminal anti-trust convictions for their join agreements in the Middle East? (pp. 144-150; 158-159) The secretary of State, Dean Acheson, thought that the BP bureaucracy had poisoned the judgment of the British government, he also worried by the possibility of a Communist takeover, he then decided in October 1952 that the Americans should try and independent initiative. But it could only be done with the help of the American oil companies, who alone had the tankers to take oil from Iran. . The state Department would only use the oil companies as part of their bulwark against Communism. In August 1952, senator John Spark-man release the foreign agreements of the oil companies,
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4-How did the major oil companies use their control over the Iranian concession to control the global supply of oil? (pp. 155-159) By October 1954 the oil was again flowing from Iran to the world’s markets, the
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This note was uploaded on 05/03/2011 for the course INTB 3351 taught by Professor Priest during the Spring '08 term at University of Houston.

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Wk 10 Reading Studyguide Questions - INTB 3351 History of...

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