Term
| Portrero del Llano 4 well |
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Definition
Discovered (1910) in Mexico
• Inaugurating Golden Lane |
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Term
| the Petroleum Administration of War during WWII |
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Definition
• Help organize and rationalize production throughout the U.S.
• SPECIAL FOREIGN MISSION: appraise oil potential in Saudi Arabia and other countries of the Persian Gulf |
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Term
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Definition
| California-Arabian Standard Oil Company |
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Term
| Standard of California and Texaco |
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Definition
| Casoc's two American Parents |
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Term
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Definition
| “We’re running out of oil!” |
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Term
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Definition
| Theory that the U.S. and its government had to control and develop foreign oil reserves in order to reduce the drain on domestic supplies, conserve them for the future and thus guarantee American Security. |
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Term
| Americans feared that the British would not allow them into the Middle East, particularly Saudi Arabia, where they already had concessions. The U.S. had three options: |
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Definition
1. Acquire direct ownership in Middle Eastern oil, on the model of the Anglo-Persian Oil Company
2. Negotiate some kind of settlement and system with Britain
3. Leave the whole matter in private hands (however, the “private hands” were looking for government support) |
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Term
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Definition
| the only two private companies involved in Arabian oil. |
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Term
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Definition
| Direct U.S. government involvement in Saudi Arabia to protect companies against Britain and support private investment |
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Term
| Petroleum Reserves Corporation |
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Definition
| was created by Ickles and was backed by the U.S. Navy |
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Term
| Standard of CA and Texaco |
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Definition
| Presidents of Casoc-a government owned oil company operating abroad |
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Term
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Definition
| “oil is our single greatest post-war asset remaining to us. We should refuse to divide out last asset with the Americans.” |
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Term
| Anglo-American Petroleum Agreement |
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Definition
o Signed August 8th 1944
o Objective: “to ensure equity to all parties including producing countries” |
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Term
| 8 member International Petroleum Commission |
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Definition
• Prepare estimates for global oil demand
• Allocate suggested production quotas to various countries
• Report to the U.S. and British governments on how to promote the development of the world petroleum industry |
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