Protecting “The Prize”: Oil and the U.S. National Interest

  title={Protecting “The Prize”: Oil and the U.S. National Interest},
  author={E. Gholz and Daryl G. Press},
  journal={Security Studies},
  pages={453 - 485}
American national security policy is based on a misunderstanding about U.S. oil interests. Although oil is a vital commodity, potential supply disruptions are less worrisome than scholars, politicians, and pundits presume. This article identifies four adaptive mechanisms that together can compensate for almost all oil shocks, meaning that continuous supply to consumers will limit scarcity-induced price increases. The adaptive mechanisms are not particularly fragile and do not require tremendous… Expand
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  • Iran now deploys Chinese-made C-801s and perhaps even Russian-made SS-N-22 Sunburns, which have significantly bigger warheads than the Exocets used during the Tanker War
  • 1994
For the classic analysis of hypothetical operations to seize the Saudi oil fields, see Thomas L. Mc-Naugher, Arms and Oil: U.S. Military Strategy and the Persian Gulf
  • 1985
69 Even in the very unlikely event that the entire sea lane between Malaysia and Vietnam were blocked, increased shipping costs would only drive up the price of oil in Japan by 0.9 percent
    72 Iran abuts the strait and occupies several islands in the Abu Musa archipelago, just inside the mouth of the Gulf. For an example of a warning about Iran's potential threat, see Simon Henderson
    • Policy Focus
    Despite the threat during the Tanker War, tanker owners were always willing to send ships into the Gulf. Navias and Hooton, Tanker Wars, 126