The Prize—Oil and the Gulf

    No study of the Middle East would be complete without an understanding of oil politics. The 1973 Arab oil embargo demonstrated the influence of Saudi Arabia and its Gulf allies on the price of oil on the global market. Though OPEC influence has waned somewhat since that era, Peak oil production has been reached in many parts of the world, which indicates that the Persian Gulf is likely to remain the world’s largest supply for the foreseeable future. Thus, keeping the region free from conflict that might interfere with oil flow is a vital security interest of both the United States and international community.