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In the decades that followed World War II, cheap and plentiful oil helped to fuel rapid economic growth, ensure political stability, and reinforce the legitimacy of liberal democracies. Yet waves of price increases and the use of the so-called “oil weapon” by a group of Arab oil-producing countries in the early 1970s demonstrated the West’s dependence on this vital resource and its vulnerability to economic volatility and political conflicts. Oil and Sovereignty analyzes the national and international strategies that American and European governments formulated to restructure the world of oil and deal with the era’s disruptions. It shows how a variety of different actors combined diplomacy, knowledge creation, economic restructuring, and public relations in their attempts to impose stability and reassert national sovereignty.
In 1905, a gusher of "black gold" sprang up southwest of Tulsa, two years before Oklahoma became a state. The site, known as Glenn Pool, became the first major oil field in Oklahoma, with reserves so huge that it could produce millions of barrels of crude. As word of the boom spread, a rush of laborers, lease buyers, oilmen, promoters, producers, and speculators flooded into the area with dreams of striking it rich. Oil fields adjacent to Glenn Pool developed, and Tulsa, which grew to be Oklahoma's second largest city, became the hub of the oil industry. Tulsa: Oil Capital of the World tells the story of one Oklahoma town's rise to fame and fortune and its emergence as an international leader in business and politics