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Crude PoliticsThe California Oil Market, 1900-1940$
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Paul Sabin and Philip Rousseau

Print publication date: 2004

Print ISBN-13: 9780520241985

Published to California Scholarship Online: March 2012

DOI: 10.1525/california/9780520241985.001.0001

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PRINTED FROM CALIFORNIA SCHOLARSHIP ONLINE (www.california.universitypressscholarship.com). (c) Copyright University of California Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CALSO for personal use.date: 04 August 2021

conclusion: The Politics of Petroleum Prices

conclusion: The Politics of Petroleum Prices

Chapter:
(p.202) CONCLUSION: The Politics of Petroleum Prices
Source:
Crude Politics
Author(s):

Paul Sabin

Publisher:
University of California Press
DOI:10.1525/california/9780520241985.003.0010

Kenneth Kingsbury accurately portrayed how prices, resource consumption, and technological development interact. Behind Kingsbury's embrace of the “economic stimulus of price,” however, lurked an unsettling contradiction. Legal and political struggles over property rights, regulatory rules, and public investment defined the contours of the oil economy. California's story shows the continuing importance of state governments and state politics in twentieth-century United States political history. Its petroleum and transportation policy distinguished it from other states. In the early 1990s, American concerns about petroleum supplies brought the United States into a large-scale military conflict (Persian Gulf War). At the close of the century, two Texas oil men rode into the White House with the support of the oil industry. The history of the California oil economy yields a basic insight and lesson: political decisions, as much as the consumption choices of human's everyday lives, have greatly influenced their development as a petroleum society.

Keywords:   petroleum, prices, resource consumption, California, transportation policy, oil economy, state governments, state politics

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