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Economic Thought and Doctrine

Painter's book, however, adds significantly to the understanding of how and why the United States adopted a post-war interventionist foreign policy by presenting the oil rationale behind containment, the Truman Doctrine, and Marshall Plan, the recognition of Israel, and American responses to nationalization crises in both Latin America and the Middle East. Partnership with the major oil firms led the United States into significant diplomatic postures. These included opposition to economic selfdetermination, reliance on the Arab Middle East, containment of Russia from oilbearing regions, and the integration of Britain and West Europe into an American financial empire fueled by and operated for, those corporations which guaranteed American access to foreign oil reserves. Oil and the American Century provides overwhelming evidence that the corporations that controlled strategic raw materials formulated policy as much as, or perhaps more than, other determinants did.