Blood and Oil in the Orient, Redux

Blood and Oil in the Orient, Redux
Bichler, Shimshon and Nitzan, Jonathan. (2017). Research Note. December. pp. 1-11. (Article - Working Paper; English).

Full Text Available As:
Cover Image

Download (422kB) | Preview
PDF (Full Text)

Download (938kB) | Preview
[img] HTML (Full Text)

Download (92kB)

Alternative Locations,,

Abstract or Brief Description

This research note updates selected charts from three previous papers. The new data present a rather startling picture, suggesting that the Middle East – and the global political economy more generally – might face an important crossroads. Our assessment here rests on the analysis of capital as power, or CasP. Beginning in the late 1980s, we suggested that, since the late 1960s, the Middle East was greatly influenced by the capitalized power of a Weapondollar-Petrodollar Coalition – a loose coalition comprising the leading oil companies, the OPEC cartel, armament contractors, engineering firms and large financial institutions – whose differential accumulation benefitted from and in turn helped fuel and sustain Middle East ‘energy conflicts’. These conflicts, we argued, reverberated far beyond the region: they affected the ups and downs of global growth, the gyrations of inflation and, in some important respects, the very evolution of the capitalist mode of power. And this impact, it seems to us, is now being called into question.



Publication Type

Article - Working Paper


conflict DA energy Middle East


BN International & Global
BN Power
BN Region - Middle East
BN State & Government
BN Value & Price
BN War & Peace
BN Business Enterprise
BN Capital & Accumulation
BN Conflict & Violence
BN Crisis

Depositing User

Jonathan Nitzan

Date Deposited

09 Dec 2017 21:58

Last Modified

11 Dec 2017 10:32


Commentary/Response Threads

Actions (login required)

View Item View Item