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ID:
107065
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2011.
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| Summary/Abstract |
Drawing from material in American and British national archives, the Johnson and Nixon presidential libraries, the archives of the International Monetary Fund, and the United Nations record, this article examines the international politics surrounding the June 1972 nationalisation of the Iraq Petroleum Company. The response to the nationalisation reveals a complex relationship between traditional Cold War concerns and the emergence of a Third World challenge to the structure of the post-war international economy: the practice of raw material sovereignty. Although Soviet aid to the Ba'ath government was central to nationalisation, it was far from exclusive. Accordingly, the nationalisation illustrates the dynamism of the Cold War era and places on display important forces that operated independently of Cold War constraints.
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| 2 |
ID:
113143
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2012.
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The United States was remarkably complacent about energy policy until the Arab oil embargo of 1973. Since then, we have relied on unnecessarily costly regulations and poorly designed subsidies to mandate or encourage particular forms of energy production and use. Our presidents have quested after an elusive technological "silver bullet." Congress has elevated parochial interests and short-term political advantages over national needs. Despite the thousands of pages of energy legislation enacted over the past four decades, Congress has never demanded that Americans pay a price that reflects the full costs of the energy they consume. Given our nation's economic fragility, our difficult fiscal situation, and the daunting challenges of achieving energy security and limiting climate change, we can no longer afford second- and third-best policies. This essay discusses the failures of the past and how we might avoid repeating them.
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