{"product_id":"oil-money-9781501715723","title":"Oil Money","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eIn \u003c\/b\u003e\u003cb\u003e\u003ci\u003eOil Money\u003c\/i\u003e\u003c\/b\u003e\u003cb\u003e, David M. Wight offers a new framework for understanding the course of Middle EastUS relations during the 1970s and 1980s: the transformation of the US global empire by Middle East petrodollars.\u003c\/b\u003e 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.\u003c\/p\u003e\u003cp\u003eIn 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 \u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003ci\u003eOil Money\u003c\/i\u003e offers a rich, thorough and sophisticated description of how petrodollar interdependence has shaped and transformed modern international relations, global capitalism and U.S. hegemony, or as Wight prefers to call it, the American \"cooperative empire.\" [I]t provides us with a fundamental introduction to one of the driving forces behind today's world and its many contradictions.\u003c\/p\u003e * The Washington Post *\u003cbr\u003e\u003cp\u003e\u003ci\u003eOil Money\u003c\/i\u003e is a well-researched study that contributes significantly to our understanding of the role that the financial dynamics of oil played in shaping the projection of US power abroad.\u003c\/p\u003e * Enterprise \u0026amp; Society *\u003cbr\u003e\u003cp\u003e[One] strength of the work worth noting is the effort, especially in the second half of the book, to integrate a popular cultural analysis. By the end of Wight's narrative, we have the basic outlines of the world in which we still live. Wight has done a yeoman's work in explaining how the world came to be this way.\u003c\/p\u003e * Middle East Journal *\u003cbr\u003e\u003cp\u003eIn rich and engaging detail, David M. Wight elaborates how US officials in the Nixon, Ford, Carter, and Reagan administrations scrambled to adapt to the end of their ability to impose low prices on compliant client states in the MENA region. In doing so, he taps \"a wealth of new sources, particularly from declassified governmental records and popular Arab, Iranian, and US media\" (p. 4).[T]he publication of \u003ci\u003eOil Money\u003c\/i\u003e is timely. It helps us understand why the Biden administration is leading with military weapon provision to intervene in Russia's war with Ukraine.\u003c\/p\u003e * H-Net *\u003cbr\u003e\u003cp\u003eCovering the 1970s and 1980s, Oil Money helps us understand the past that continues to haunt the present. In his accessible and well-researched account, Wight sheds light on the historical origins of the promise and peril of a relationship in which the United States, the oil-producing Arab countries, and Iran have all failed to bring about a positive transformation of the petrodollar economy.\u003c\/p\u003e * Catalyst *\u003cbr\u003e\u003cp\u003e[T]his book is well-researched and engaging. Among the main strengths of the book is also its emphasis on how the reality of the new petrodollar-based US \"empire\" was represented, debated, and constructed in the public sphere, both in the US and in the MENA.\u003c\/p\u003e * Society for U.S. Intellectual History *\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eIntroduction\u003cbr\u003e 1. Oil, US Empire, and the Middle East\u003cbr\u003e 2. The Road to the Oil Shock\u003cbr\u003e 3. Pursuing Petrodollar Interdependence\u003cbr\u003e 4. The Triangle to the Nile\u003cbr\u003e 5. The Petrodollar Economy\u003cbr\u003e 6. Visions of Petrodollar Promise and Peril\u003cbr\u003e 7. Reform and Revolt\u003cbr\u003e 8. Revolution and Invasions\u003cbr\u003e 9. Recoveries and Crises\u003cbr\u003e 10. End of an Era\u003cbr\u003e Conclusion\u003c\/p\u003e","brand":"Cornell University Press","offers":[{"title":"Default Title","offer_id":49409328218455,"sku":"9781501715723","price":39.6,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781501715723.jpg?v=1730506437","url":"https:\/\/bookcurl.com\/products\/oil-money-9781501715723","provider":"Book Curl","version":"1.0","type":"link"}