A Quote by Greg Grandin
By June 1974, Treasury Secretary George Shultz was already suggesting that rising oil prices could result in a 'highly advantageous mutual bargain' between the United States and petroleum-producing countries in the Middle East.
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Fantasy is the tendency of Americans, going back to colonial times, to look at the Middle East as a type of fractured mirror of the United States - a type of mirror that could look a lot more like the United States, if, say, a Middle Eastern George Washington would emerge.
There are a lot of countries, oil-producing countries, that aren't very democratic, but supported by the United States. That's odd.
The United States and Israel have enjoyed a friendship built on mutual respect and commitment to democratic principles. Our continuing search for peace in the Middle East begins with a recognition that the ties uniting our two countries can never be broken.
Oil is also essential for military operations. No other substance, no other raw material, is so vital for the prosecution of warfare, than petroleum. And the United States being the world's only global power, is totally dependent on petroleum.
The two largest oil-producing countries in Latin America, Mexico and Venezuela, sold petroleum to Nicaragua at concessional rates for several years beginning in 1980. The program was curtailed because Nicaragua could not make even reduced payments.
In every country except - industrial country except the United States, the government uses its massive purchasing power to negotiate drug prices. That's one of the reasons prices are so much higher in the United States than in other countries.
Controlled Middle East oil, it would control the world. This oil represents 65 percent of world oil reserves. Therefore, America believes if it squashed Iraq, it would control the oil of the Middle East and consequently hold the oil in its hands [and] fix its price the way it likes.
The BRIC countries - Brazil, India, China, Turkey, South Africa, Indonesia even, and Russia - are now new actors. Over the last eight years, China multiplied by seven its economic presence and penetration in the Middle East. And if this happens on economic terms and there is a shift towards the East, the relationship between these countries and Israel is completely different from the United States. And it means that the challenges are going to be different, because China is not supporting Israel the way the U.S. are supporting Israel.
As long as the United States - and the world - gets its oil from the Middle East, we will be drawn into the endless crises that seem endemic to the region. American energy independence would not only liberate us, it would also drive down the worldwide price of oil.
Stocks in the United States plunged in 2002 amid fears of war and terrorism, a weak economy, rising oil prices and dozens of corporate scandals. It was the third consecutive annual decline, the first time that has happened in 60 years.
I think the public is very reluctant to get involved in more foreign wars, especially in the Middle East. And they understand, implicitly, that we go to war in the Middle East because of oil. And if we don't want to go to war in the Middle East, then we have to do something about the oil problem. And I think that view is gaining ground in the U.S.
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
There's nothing that the United States can do. Nothing that would change systems in the Middle East, nothing the United States can do that would make the Middle East a better place.
It's really necessary for the United States to continue to give strong leadership to the Middle East peace process, supported by European countries at the same time.
Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.
There has been sort of, if you will, a moral interventionism on the part of the United States trying to reshape countries in our own image. Now, we had to go into Afghanistan. We didn't have to go into Iraq. But the idea that you could create a Vermont in the Middle East like that was naive from the beginning.
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