Accession Number:

AD0766104

Title:

U.S. Middle East Oil: The Petroleum Reserves Corporation

Descriptive Note:

Monograph

Corporate Author:

ARMY WAR COLL CARLISLE BARRACKS PA

Personal Author(s):

Report Date:

1972-02-23

Pagination or Media Count:

50.0

Abstract:

There is one incident recorded in which the US Government attempted to nationalize private American oil interests. During WW II the USG formed a corporation specifically for the purpose of acquiring proven foreign petroleum reserves. Under a veil of secrecy the Petroleum Reserves Corporation PRC was formed by President Roosevelt in June 1943 to buy a controlling interest in the Arabian-American Oil Company. Once the matter became public the White House fell silent. The oil company refused to sell and apparently had a greater lobby in Congress than the Executive Department. The PRC project became a dead duck. Using an extensive literature search of primary source documents, the author reconstructs this brief but important episode of wartime diplomatic history.

Subject Categories:

  • Economics and Cost Analysis
  • Government and Political Science

Distribution Statement:

APPROVED FOR PUBLIC RELEASE