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International - Oil Money: Middle East Petrodollars and the Transformation of US Empire, 1967–1988 (The United States in the World)

Description

Book Synopsis: In Oil Money, David M. Wight offers a new framework for understanding the course of Middle East–US relations during the 1970s and 1980s: the transformation of the US global empire by Middle East petrodollars. During these two decades, American, Arab, and Iranian elites reconstituted the primary role of the Middle East within the global system of US power from a supplier of cheap crude oil to a source of abundant petrodollars, the revenues earned from the export of oil.

In the 1970s, the United States and allied monarchies, including the House of Pahlavi in Iran and the House of Saud in Saudi Arabia, utilized petrodollars to undertake myriad joint initiatives for mutual economic and geopolitical benefit. These petrodollar projects were often unprecedented in scope and included multibillion-dollar development projects, arms sales, purchases of US Treasury securities, and funds for the mujahedin in Afghanistan. Although petrodollar ties often augmented the power of the United States and its Middle East allies, Wight argues they also fostered economic disruptions and state-sponsored violence that drove many Americans, Arabs, and Iranians to resist Middle East–US interdependence, most dramatically during the Iranian Revolution of 1979.

Deftly integrating diplomatic, transnational, economic, and cultural analysis, Wight utilizes extensive declassified records from the Nixon, Ford, Carter, and Reagan administrations, the IMF, the World Bank, Saddam Hussein's regime, and private collections to make plain the political economy of US power. Oil Money is an expansive yet judicious investigation of the wide-ranging and contradictory effects of petrodollars on Middle East–US relations and the geopolitics of globalization.

Details

Tired of reading the same old history books? Well, get ready to embark on an eye-opening journey through the fascinating world of Middle East–US relations with Oil Money: Middle East Petrodollars and the Transformation of US Empire, 1967–1988. Written by David M. Wight, this groundbreaking book offers a fresh perspective on the crucial role petrodollars played in reshaping the global empire of the United States during the tumultuous decades of the 1970s and 1980s.

Discover how petrodollars transformed the Middle East from a mere oil supplier to a powerful force that reshaped the global political and economic landscape. Wight takes you deep into the world of American, Arab, and Iranian elites as they harnessed the power of petrodollars to undertake groundbreaking initiatives that forever changed the course of history. From massive development projects and arms sales to funding the mujahedin in Afghanistan, the scope of these petrodollar endeavors is mind-boggling.

But Oil Money doesn't shy away from the complexities and contradictions of these petrodollar ties. While they undoubtedly enhanced the power of the United States and its Middle East allies, they also inadvertently bred economic disruptions and state-sponsored violence. Explore the dramatic events that unfolded during the Iranian Revolution of 1979 and learn how this resistance marked a turning point in Middle East–US interdependence.

With its meticulous research and extensive use of declassified records, Oil Money provides a comprehensive understanding of the political economy of US power. Wight seamlessly combines diplomacy, economics, transnational connections, and cultural analysis to paint a vivid picture of this transformative era in history. Brace yourself for a truly enlightening read that challenges your preconceived notions and invites you on a thought-provoking journey through the geopolitics of globalization.

Don't miss out on this extraordinary opportunity to delve into the untold story of Middle East–US relations. Grab your copy of Oil Money: Middle East Petrodollars and the Transformation of US Empire, 1967–1988 now and experience history like never before. Click here to purchase.

Disclosure: I get commissions for purchases made through links in this website