Understanding the economic power of oil
Belanger, Jon C.
Magnus, Ralph H.
Looney, Robert E.
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Oil has become a single global market in which oil price fluctuation now have the ability to rock the world economy. The purpose of this thesis is to examine the changing nature of this threat and vy doing so, show that Saudi Arabia, which has acted as the primary stabilizing tool by American foreign policy makers, will no longer suffice in this capacity. Rather, Saudi Arabia, which has for the most part cooperated with the United States in helping to stabilize oil price and supply disruptions, will become increasingly less cooperative in a much shorter time frame than might be anticipated with regard to oil supplies. This thesis proposes possible avenues for U.S. national security policy by exploring pathways that might further ensure economic security and stability of the Middle East region in light of the new nature of the oil threat. The goal of economic security and stability can only be realized through an understanding of the oil producing nations and their relationships with the international community and world economy.
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