Most intractable is the expansion of Ala nationalism and the effects of the Arab-Israeli conflict, with British Foreign Secretary Holm worried that Britain supported U.S. policy in the Middle East but worried about Arab oil embargoes on Britain. The ability of the international oil consortium led by Britain and the United States to intervene in the Middle East oil is declining, Holm stressed that because the United States can produce oil domestically, the proportion of oil imported by the United States will not exceed 15%, but Britain's oil consumption of more than 70% needs to rely on Middle East supplies, and now the proportion of the seven major oil companies controlling international oil has dropped from 89% in 1952 to 75% in 1968, and will continue to decline in the future. Now many independent oil companies in Europe and the United States have come to the Middle East to demand oil concessions, and the conditions they put forward are more favorable, these independent oil companies do not have government shares, they will not easily obey the government's requirements, Arab oil-producing countries are increasingly dispersing the oil resources in their hands to independent oil companies, now Arab oil-producing countries will reach 50% of newly discovered oil fields, North African new oil fields account for about 10%, Arab oil-producing countries control oil resources more and more advantageously, Now, if TNCs do not accede to the conditions imposed by oil-producing countries, they will ceded to independent oil companies through transfers under oil agreements, which puts TNCs in an increasingly difficult position.
Holm also like Nixon proposed that many oil-producing countries personally participate in the development of their own oil resources, this trend is becoming more and more obvious, although many multinational companies and oil-producing countries do not explicitly stipulate that the oil-producing governments must participate in production, but with the support of OPEC, many industrial countries are involved in the operation, now OPEC as a combination of economic and political organizations, more and more influence on oil-producing countries, oil-producing countries demand equal participation in the operation and management of the oil industry, and expand the shares held in the company. British and American officials believe that in the future, oil-producing countries are likely to take two measures against multinational companies: 1) increase the tax rate per barrel of oil exports and directly control the profits of multinational companies, 2) issue decrees, the governments of oil-producing countries directly participate in the production, sales, exploration and other links of oil, 3) in order to maintain profits, oil-producing governments will arbitrarily reduce prices, through oil production to maintain oil sales profits, but this practice of oil-producing countries not only weakens the company's profits, but also corrodes the international oil price system, causing oil prices to fall. And what multinational companies can do is follow in the footsteps of oil-producing countries.
This Anglo-American meeting is an analysis of international oil trends, but oil is an important strategic material for Western countries, and the British economic report mentions the political direction of the future impact of Arab oil-producing countries on the economic impact of British and American countries, because Britain clearly supports Israel in the third Middle East war, so the British government is well aware of the resentment of radical Arab countries against Britain, and Britain's support for Israel is completely strategic.
Because Egypt and Iraq have successively separated from the influence of Britain, this has caused fatal harm to Britain's Middle East oil policy, especially the nationalization of the Suez Canal, which is equivalent to choking the throat of Middle East oil to Britain, radical Arab countries emphasize safeguarding national sovereignty and recovering imperialist oil privileges in the Middle East, Arab nationalism itself is contrary to Britain's traditional relations in the Middle East, Arab nationalism is to completely eliminate British forces in the Middle East, which Britain cannot tolerate. After losing Egypt and Iraq, in order to resist the influence of Arab radicalism, Britain chose to support Israel and fight radical Arab countries through Israel, but Britain's approach itself has brought great security risks to itself, pro-British Arab conservative countries have aroused strong anti-British and American sentiment, and it is reflected in many places in conservative countries, Britain believes that if there is another Arab-Israeli conflict, it is likely to stimulate large-scale mass demonstrations in conservative countries. Arab oil-producing countries will take punitive measures against British and American multinationals because of domestic pressure, and it is difficult to determine the consequences of this sentiment now that is widespread.
Britain is most concerned about the oil embargo against Britain and other Western countries, and the British telegram to the United States emphasizes the importance of Arab oil: now the oil export capacity of Arab countries is twice that of non-Arab countries, the future oil reserves of Arab countries are about 35.1 billion barrels, non-Arab oil is 7.3 billion barrels, of which 5.3 billion barrels belong to Iran, Arab oil production is huge, Arab oil-producing countries can produce 10 million barrels per day. Non-Arab countries can only produce 2 million barrels per day, and if Iran is removed, non-Arab countries can only produce less than 1 million barrels per day, so the impact of the oil embargo on Arab oil-producing countries on the Western world is huge, and the two governments have discussed this issue many times.
