Confessions of an Economic Hit Man - Chapter 15 Summary & Analysis

John Perkins
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Chapter 15 Summary and Analysis

In 1974, John met with a diplomat from Saudi Arabia and learned that Saudi society was puritanical idealism, and its leaders made sure that people followed the Koran very strictly. Their religion went hand in hand with their politics. Because the U.S. defended Israel in the October, 1973 Arab attack, the Saudis announced a seventy percent increase in oil prices. Other Arab countries took less radical steps to affect the oil supply. President Nixon didn't take this seriously and sent $2.2 billion in aid to Israel, which led to a total embargo on oil to the U.S that lasted until March 18th, 1974. Protecting the U.S. oil supply moved from a priority to an obsession. Washington realized was that Saudi Arabia's good will was essential and also that it lacked the skills to manage the wealth it was getting. The U.S...

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This section contains 433 words
(approx. 2 pages at 400 words per page)
Buy the Confessions of an Economic Hit Man Study Guide
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