The Prize: The Epic Quest For Oil, Money & Power

The Prize: The Epic Quest For Oil, Money & Power

By: Daniel YerginPowerpoint By: Lewis Rosenblum

By: Daniel YerginPowerpoint By: Lewis Rosenblum

The FoundersThe Founders

Oil refined into kerosene, used as illuminant

John D. Rockefeller/Standard Oil-1870

Nobels and Rothschilds Family-Russia

Standard Oil Trust

Oil refined into kerosene, used as illuminant

John D. Rockefeller/Standard Oil-1870

Nobels and Rothschilds Family-Russia

Standard Oil Trust

Oil WarsOil Wars

Deterding- Combine Royal Dutch/Shell

Standard Oil Loses Some International Trade

Oil in Persia- British Petroleum Compete For Sales-Price Wars Crude Oil Used in Cars

Deterding- Combine Royal Dutch/Shell

Standard Oil Loses Some International Trade

Oil in Persia- British Petroleum Compete For Sales-Price Wars Crude Oil Used in Cars

Standard Oil BreakupStandard Oil Breakup

May 15th 1911, Standard Oil Forced to Breakup into 34 Smaller Companies

Those included Mobil, Exxon, Chevron Amoco

May 15th 1911, Standard Oil Forced to Breakup into 34 Smaller Companies

Those included Mobil, Exxon, Chevron Amoco

World War IWorld War I

Oil powered Boats and Cars-Speed

German Railroads, less threatening b/c of faster cars (transportation,mobility)

U.S. and British Navy-Faster than Germany

Oil powered Boats and Cars-Speed

German Railroads, less threatening b/c of faster cars (transportation,mobility)

U.S. and British Navy-Faster than Germany

Age of OilAge of Oil

Red Line Agreement Teapot Dome Elephants discovered in

Venezuela and Texas

Red Line Agreement Teapot Dome Elephants discovered in

Venezuela and Texas

WWIIWWII

Use Oil to power Planes U.S./Britain embargo oil to Japan--

>Japan not self-sufficient-->Lose Germany- Synthetic oil production,

expensive and still not enough to maintain winning streak. Big target for Allied Air Strikes

Allies- Oil from Kuwait, Saudi Arabia, Mexico--> Begin to run out

General Patton runs out of oil

Use Oil to power Planes U.S./Britain embargo oil to Japan--

>Japan not self-sufficient-->Lose Germany- Synthetic oil production,

expensive and still not enough to maintain winning streak. Big target for Allied Air Strikes

Allies- Oil from Kuwait, Saudi Arabia, Mexico--> Begin to run out

General Patton runs out of oil

AramcoAramco

Exxon, Mobil, Chevron and Texaco combine to form Aramco.

Aramco-Crude Oil Production and Distribution company

Exxon, Mobil, Chevron and Texaco combine to form Aramco.

Aramco-Crude Oil Production and Distribution company

50-50 Deal(s)50-50 Deal(s)

Deals in where the profits are split 50-50 between the company and the host country, with an upfront fee also paid to the host country.

Venezuela, Saudi Arabia, Kuwait

Deals in where the profits are split 50-50 between the company and the host country, with an upfront fee also paid to the host country.

Venezuela, Saudi Arabia, Kuwait

The Oil WeaponThe Oil Weapon

Saudi Arabia and Iraq threatened to stop oil trade with U.S. if they became involved in their war with Israel.

If that happened it would be devastating to U.S. economy

Saudi Arabia and Iraq threatened to stop oil trade with U.S. if they became involved in their war with Israel.

If that happened it would be devastating to U.S. economy

AlaskaAlaska

Oil Companies attempted to find oil in the harsh, barren tundra

First Attempts failed 1968- Oil Found Idea for Alaskan Pipeline Issued 1973-Alaskan Pipeline Approved Became a Major U.S. oil provider,

less reliant on Middle East imports

Oil Companies attempted to find oil in the harsh, barren tundra

First Attempts failed 1968- Oil Found Idea for Alaskan Pipeline Issued 1973-Alaskan Pipeline Approved Became a Major U.S. oil provider,

less reliant on Middle East imports

Post-War Oil CrisesPost-War Oil Crises

Anglo-Iranian Company Suez Canal Crisis Suez Canal Closed Arab Oil Embargo Dramatic Raise in Oil Prices (13$-

34$) UN Sends Men to Middle East, Gulf

War

Anglo-Iranian Company Suez Canal Crisis Suez Canal Closed Arab Oil Embargo Dramatic Raise in Oil Prices (13$-

34$) UN Sends Men to Middle East, Gulf

War