Japan and the Middle East

William R. Nester
Additional contact information
William R. Nester: St John’s University

Chapter 9 in Japan and the Third World, 1992, pp 205-232 from Palgrave Macmillan

Abstract: Abstract In less than a quarter of a century, Japan’s economy was transformed from almost self-sufficiency in energy to almost total dependence on foreign energy sources.1 In 1950, domestic coal reserves satisfied about 80 per cent and foreign oil only 7 per cent of Japan’s energy needs. In 1973 95 per cent of Japan’s energy was imported, of which oil accounted for 75 per cent, and Middle East oil almost 80 per cent of total oil imports.2 Japan’s increasingly powerful industrial machine ran on the seemingly endless flow of oil from the Middle East and elsewhere. In these halcyon days before OPEC’s quadrupling of oil prices in December 1973, Tokyo’s energy policy consisted mostly of trying to get the cheapest oil possible to fuel Japan’s average annual 10 per cent growth rate.

Keywords: Saudi Arabia; Middle East; European Economic Community; Foreign Minister; Hostage Issue (search for similar items in EconPapers)
Date: 1992
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11678-2_10

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349116782

DOI: 10.1007/978-1-349-11678-2_10

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().