Francisco Parra, one of the oil world's most distinguished and respected figures, is in a position to provide unique knowledge and insights on the politics and history of oil. Here he sets out the political and economic events which over the past 50 years have shaped the international petroleum industry. He demonstrates how the triangular relationship between Middle Eastern governments, the big seven major oil companies, and the governments of their home countries--the United States and Britain--is at the center of the conflicts that have persisted since 1950. This book will be essential to all practitioners in the energy industry as well as to observers of the political world.