Description

Original bdg. with original dust wrapper. Demy 8vo. 256 p. The decision to nationalize the Iraq Petroleum Company in 1972 was an events of profound significance for present-day Iraq. It marked a turning-point in the long historical process which has brought about major changes in the country's external relations, the restructuring of its domestic policies, and more specifically the establishment of an independent oil policy. Using previously unpublished material, the author describes Iraq's efforts to establish control over its own oil resources and examines the underlying political assumptions on which policy was based. Iraq's methodical implementation of production and marketing strategies for its oil has encouraged the adoption of similar independent policies within OPEC. The need for the proper utilization of oil revenues for growth and development is clearly outlined by the author, and the book will provide invaluable insights for scholars, journalists and all those concerned with the dynamics of oil in the Middle East.