The Anglo-American Oil Agreement and the Wartime Search for Foreign Oil Policy*

Michael B. Stoff

Business History Review, 1981, vol. 55, issue 1, 59-74

Abstract: Unprecedented rates of consumption by the American and Allied war machine during World War II, along with a reduction in world supplies as a result of enemy victories, first brought the United States face to face with the possibility of dependence upon others for our oil after the war. Government officials attempted to avoid that outcome through the Anglo-American Oil Agreement but only succeeded in provoking domestic producers. Meanwhile, British and American oil companies provided relief by private commercial arrangements in the then-new Middle Eastern fields. While Professor Stoff's story ends in the dark ages of naive American belief that such enterprises, when countenanced by our government, constituted freedom from dependence, it is indispensable to an understanding of what came later.

Date: 1981
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