Standard Oil of New Jersey, Texaco, Gulf, Mobil, Standard Oil of California, Royal-Dutch Shell, and British Petroleum.
2.
For almost a decade after World War II, the majors controlled 90 percent of the crude reserves outside the U.S., owned most of the tankers, refineries, and the outlets that funneled processed oil to the consumers. “Why the Oil Giants are Under the Gun,”Business Week (October 25, 1969) 82–96.
3.
In 1951, Iran, for example, nationalized its oil fields but after three years of vain efforts to market its oil abroad, was forced to come to terms with a consortium of western oil companies.
4.
“Why the Oil Giants are Under the Gun,”op. cit., 86.
5.
This has proved to be a tenuous assumption indeed in the light of recent events, e.g. coup d'etat in Libya and civil war in Nigeria.
6.
GardnerFrank J., “Africa: The Free World's Amazing New Oil Elephant,”Oil & Gas Journal (October 27, 1969) 35.
7.
Ibid., 38.
8.
Petroleum Facts and Figures, American Petroleum Institute, 1961, 1967.
9.
IssawiC.YeganehM., The Economics of Middle Eastern Oil (London: Feber and Faber, 1962).
10.
GardnerFrank J., “World Oil Faces Volatile but Promising New Decade,”Oil & Natural Gas Journal (August 11, 1969) 72.
11.
“Russia's Mideast Entry May Bring Benefits,”Oil & Natural Gas Journal (August 11, 1969) 69.
12.
“Why the Oil Giants are Under the Gun,” op. cit., also see “OPEC Gets Outline for Tougher Deal,”Oil & Natural Gas Journal (September 8, 1969), 52.
13.
“Why the Oil Giants are Under the Gun,” op. cit., 94.
14.
Arabian Oil Company in Persian Gulf's Neutral Zone and Abu Drabi Petroleum Development Company (ADPEC) in Abu Dhabi. Oil & Natural Gas Journal (October 6, 1969), 112.
15.
GardnerFrank J., “Watching the World,”Oil & Natural Gas Journal (August 11, 1969), 81.
16.
“ENI to Triple 5-Year Oil and Gas Budget,”Oil & Natural Gas Journal (March 17, 1969), 129.
