How did the US end up with this domestic concessionary system that's so different from what other countries have? The key issue here is basically property of land. It's very, since the owners of land are so many, it's very hard to monopolize production of oil in the United States. I was struck when I visited one Sanoylfield in the United Arab Emirates and you don't see wells there. But if you visit an oil reserve, in an oil producing area of the United States, you see thousands of wells. So, the images of these wells one after the other, that's an image that is really related to the United States and it's hard to find elsewhere
Featuring Giuliano Garavini on his book The Rise and Fall of OPEC in the Twentieth Century. The first of a two-part series on the 20th-century history of petrostates, petrocapitalists, and the world system.
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