Money, oil, and empire in the Middle East : sterling and postwar imperialism, 1944-1971 / Steven G. Galpern.

Format:

Book

Author/Creator:

Galpern, Steven G., 1969-

Language:

English

Subjects (All):

Petroleum industry and trade--Great Britain--History--20th century.

Petroleum industry and trade.

Petroleum industry and trade--Middle East--History--20th century.

Pound, British--History--20th century.

Pound, British.

Imperialism--History--20th century.

Imperialism.

History.

Middle East.

Great Britain.

Physical Description:

xiv, 331 pages : illustrations ; 24 cm

Place of Publication:

Cambridge, UK ; New York : Cambridge University Press, 2009.

Summary:

"An important new political and economic history of the unravelling of the British Empire and its connection to the decline of sterling as a leading international currency. Analyzing events such as the 1951 Iranian oil nationalization crisis and the 1956 Suez crisis, Steven Galpern provides a new perspective on British imperialism in the Middle East by reframing British policy in the context of the government's postwar efforts to maintain the international prestige of the pound. He reveals the link that British officials made between the Middle Eastern oil trade and the strength of sterling and how this influenced government policy and strained relationships with the Middle East, the United States, and multinational oil firms. In so doing, this book draws revealing parallels between the British experience and that of the United States today and will be essential reading for scholars of the British empire, Middle East studies and economic history"--Provided by publisher.

Contents:

Anglo-American conflict over oil and the sterling area

Sterling and Britain's confrontation with nationalism in Iran

The Suez crisis : a sterling rescue operation gone wrong

Kuwait's surplus oil revenue : the benefit and threat to sterling

Conclusion : the devaluation of 1967 and the end of empire.

Notes:

Includes bibliographical references and index.

ISBN:

9780521767903

0521767903

OCLC:

351325472

Online:

Cover image