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World War I created a huge drain on U.S. oil. Fear of inadequate domestic reserves caused the U.S. government to urge its nationals to develop foreign sources and to support them in this effort. But American oil companies were unable to obtain exploration concessions in the Middle East and other areas because of the political influence of the British, Dutch, and French empires. The United States called for an ‘open door’ policy. Ultimately, after prolonged and stubborn British opposition, an agreement was made in 1928… (en) |
