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The Life and Times of the Shah$
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Gholam RezaAfkhami

Print publication date: 2009

Print ISBN-13: 9780520253285

Published to California Scholarship Online: March 2012

DOI: 10.1525/california/9780520253285.001.0001

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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: 03 August 2021

Mastering Oil

Mastering Oil

(p.263) 12 Mastering Oil
The Life and Times of the Shah

Gholam R. Afkhami

University of California Press

The Consortium settlement in 1954 was a defeat for Iran. The Consortium received all the operational fields and territory previously conceded to AIOC. For the shah, moving beyond the Consortium was politically exciting and technically educational. He reasoned that oil was the fuel that drove the West, the commodity the West considered absolutely vital to its interests and would go to any length necessary to protect. In later years, Iran would become the first Third World country to engage in refining and distributing oil abroad. In the 1950s, however, the shah opted for the simplest solution: he would deal where governments controlled the oil—in Eastern Europe, India, Argentina, Finland, and the like. With these countries the exchange could take a number of forms, including barter, which became a way of trading with Eastern Europe.

Keywords:   oil issues, barter, Iran, AIOC, Eastern Europe, shah, Consortium

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