Persian Gulf Oil

Archive Report

Growing Impotance of Persian Gulf

Recurrent violence and tragedy in the ArabIsraeli conflict have continued to distract Western eyes from another region of the Middle East which 4s calmer but equally crucial—the Persian Gulf. With more than one-half of the world's proved oil reserves1 and perhaps as much as two-thirds of all oil deposits beyond the Communist bloc, the Persian Gulf is fast becoming a focal point of the world energy supply picture. For the industrial nations of the West, this oil is essential to their future well-being. For the Persian Gulf states, oil represents income, development and influence undreamed of only a few decades ago. A recent report from the House Foreign Affairs Subcommittee on the Near East concluded that “never before in the ...

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