What are we there for? The Gulf Bargain
Tom Stevenson, 9 May 2019
Anglo-American interest in the enormous hydrocarbon reserves of the Persian Gulf does not derive from a need to fuel Western consumption. Britain used to import considerable quantities of Saudi oil, but currently gets most of what it needs from the North Sea and hasn’t imported much from the Gulf since the 1980s; Saudi oil currently represents around 3 per cent of UK imports. The US has never imported more than a token amount from the Gulf and for much of the postwar period has been a net oil exporter. Anglo-American involvement in the Middle East has always been principally about the strategic advantage gained from controlling Persian Gulf hydrocarbons, not Western oil needs.