Oil and gas have not only fueled economies but created rivalries, territorial disputes and wars. In the last one hundred years or so, since petroleum resources have…
Oil and gas have not only fueled economies but created rivalries, territorial disputes and wars. In the last one hundred years or so, since petroleum resources have been commercially extracted it is central to numerous armed conflicts.
Some notable examples, are seen in Europe, Middle East, Africa and now extending into the Southern Caribbean:
1. World War II (1939-1945)
German Expansion: One of Hitler’s strategic goals was to access oil in the Caucasus (Baku, Gronzny and Mailok areas). The 1942 Battle of Stalingrad was directly tied to Germany’s push toward the enormous Soviet oil fields.
2. Middle East Conflicts
- Iran (1953 Coup): The nationalization of the Anglo-Iranian Oil Company (now bP) by Prime Minister Mossadegh led to a United States-United Kingdom backed coup, reinstating the Shah. While not a direct war, it set the stage for decades of instability.
- Gulf War (1990-1991): Iraq’s invasion of Kuwait was triggered by Kuwaiti overproduction which had the direct effect of keeping oil prices low and alleged directional drilling into Iraqi oil fields. The U.S.-led coalition intervened to secure Gulf oil supplies, whereby major U.S. Oil and Gas corporations such KBR (NYSE: KBR) was heavily involved in
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