CHECK THESE SAMPLES OF How Did the 1970s Oil Crisis Affect the US Saudi Relations
There may be numbers of identified causes and consequences, however, this paper will only cover those which are of remarkable contribution and worldwide effects brought about by this oil crisis.... There is a direct relation between us dollar and oil price.... Developing the Bretton Woods system was lead by John Maynard Keynes, a well-known British economist and Harry Dexter White, a us Treasury official.... Under this system, all the member nations set their currencies to us dollar, which pegged itself to gold at fixed rate....
6 Pages
(1500 words)
Essay
The author of the paper "History of the Multinational oil Market" aimed to give a historical overview of the multinational oil market.... The first oil corporation Standard oil Company began operations with a successful oil strike in the United States.... It is evidently clear from the discussion that in the 1920s, Mexico became the greatest oil exporter and the second producer in the world.... The Middle East producers had (and still have) great influence in the oil market....
13 Pages
(3250 words)
Literature review
This oil embargo had been devastating impact on US economy as it put a full stop to the epoch of cheap gasoline, and the us share markets witnessed an unprecedented fall by about $97 billion followed by the worst economic recession in USA and other parts of the world.... The oil crisis in the 1970s “The Story and the Reason Behind the oil crisis in The 1970s” The Organisation of the Petroleum Exporting Countries (OPEC) mainly consisting of Arab nations ceased their exports of oil products to US and other Western countries during October 1973....
12 Pages
(3000 words)
Term Paper
In the background of the us domestic along with foreign policy, the new buzzword i.... While determining the us foreign policy, one can find the aspect of terrorism to be rampantly addressed.... It is worth mentioning that the execution of fatal events relating to September 11th in the us have noticeably re-energised the focus of the us government towards adopting effective policies for combating terrorism.... With this concern, this essay intends to discuss about the foreign policy of the us against terrorism....
12 Pages
(3000 words)
Essay
The author states that despite all the complications in the Saudi-US relations, their cooperation continues, because of the us has an increased dependence on oil imports while the lingering threat to the Saudi dynasty KSA in an ever dire need for security assistance from the us needs .... for oil on Saudi Arabia is not, however, a one-way phenomenon, because of KSA in its own turn banks on the us for its defense against external enemies, which are quite a few, due to KSA holding such a central position in the Muslim world....
20 Pages
(5000 words)
Essay
Standard Oil Company continued its growth into a major player in the oil sector both within and without the us.... The success ExxonMobil has enjoyed since the merger of Exxon and Mobil in 1999 is tied to this place of oil in the economy.... Rockefeller's Standard oil came into existence in 1839, and by 1870, had formed a monopoly on the oil sector in the United States.... Higher prices of oil and commodities, in general, have a negative effect on equity investment and on world economic growth....
9 Pages
(2250 words)
Case Study
Figure 2 depicts the demand of the world, the us, Japan, and South Korea.... During this period, the us has raised its domestic production to reduce its imports.... The study 'How Stable Is the Largest Oil-Based Economy in the World' shows the contribution of saudi Arabia to the total world supply of oil and its economy's dependence of 'black gold'.... saudi Arabia, the second largest country in the Arab world (in terms of area), possesses huge oil reserves and has had a significant level of production capacity....
38 Pages
(9500 words)
Research Paper
(Brumberg, 2003, 47-52)The massive regional imbalances in wealth that were seized upon by Saddam Hussein (and recognized by the us and its Arab allies in their calls for a new regional development bank) will not be ameliorated.... (Elbadawi, 2002, 78-152)Overall, the changes in the Arab economy wrought by the crisis suggest that a gradual and partial disassembly of the Arab oil economy has been in motion.... Though some employment is temporary, particularly jobs in the construction industry (though even here there are long-term manpower needs), the oil-producing states have constructed new industries and service sectors that, for the foreseeable future, will require a labor force larger and more skilled than they themselves can provide....
15 Pages
(3750 words)
Case Study