Not in Oil's Name

Abstract

SINCE OIL became vital to industrial societies, it has been the subject of mythmaking. This is not surprising since the control and pricing of energy is an emotionally charged issue that lends itself to conspiracy theories and distorted interpretations of past events. Conspiracy theorists are once again active, spurred on by the conflict in oil-rich Iraq. They see multinational oil corporations working with the U.S. government to dominate the supply, distribution, and cost of oil. To them, the ultimate goal lurking behind major international crises, such as Iraq, is access to oil. But the relationship between oil and politics is not so simple. Neither oil scarcity nor energy security-the twin concepts that underpin much thinking about this issue even in some official circles is a sound starting point for thinking about oil policy. Getting beyond such notions, however, requires an examination of the myths and the realities of oil.