Global Oil Conflicts of the Twentieth Century

Teaching Unit Elements

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Global Oil Conflicts of the Twentieth Century

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Global Oil Conflicts of the Twentieth Century

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Global Oil Conflicts of the Twentieth Century

1908
Ford introduces the Model T automobile.
1917
The new Mexican constitution asserts government ownership of subsoil resources, including oil.
1918
Soviet Union nationalizes the oil industry.
1928
Red Line Agreement
1928
Standard Oil of California obtains concession in Bahrain, followed by 1933 concession in Saudi Arabia
1943
Hydrocarbons Law in Venezuela establishes 50:50 profit split between government and oil companies.
1950
Aramco signs 50:50 agreement with Saudi Arabia, followed by Iraq and Kuwait.
1951
Iranian oil nationalization
1953
Iranian Prime Minister Mohammad Mossadegh, who favored oil sovereignty, is overthrown in a coup supported by the British and U.S. governments.
1956
Egypt nationalizes the Suez Canal, a major conduit of oil to Europe. Israel, the United Kingdom, and France invade Egypt in a failed attempt to regain control of the canal and overthrow the Egyptian government.
1960
Organization of Petroleum Exporting Countries (OPEC) created.
1970
Libya renegotiates its oil contracts, part of a wave of oil nationalizations and renegotiations during the 1970s.
1979
Iranian Revolution topples the U.S.-backed Shah and establshes the Islamic Republic under the leadership of Ayatollah Khomeini
1980
President Jimmy Carter articulates the "Carter Doctrine," declaring that efforts to gain control of the Persian Gulf region would be considered "an assault on the vital interests of the United States," and repelled by "any means necessary, including milit
1990
Iraq invades and occupies Kuwait in a dispute over oil pricing and oil resources. The United States leads an international military coalition that expels Iraq from Kuwait.