The Prize recounts the panoramic history of oil -- and the struggle for wealth power that has always surrounded oil. This struggle has shaken the world economy, dictated the outcome of wars, and transformed the destiny of men and nations. The Prize is as much a history of the twentieth century as of the oil industry itself. The canvas of this history is enormous -- from the drilling of the first well in Pennsylvania through two great world wars to the Iraqi invasion of Kuwait and Operation Desert Storm. The cast extends from wildcatters and rogues to oil tycoons, and from Winston Churchill and Ibn Saud to George Bush and Saddam Hussein. The definitive work on the subject of oil and a major contribution to understanding our century, The Prize is a book of extraordinary breadth, riveting excitement -- and great importance.

From the 1940s to 1960s, Iran developed into the world's first 'petro-state', where oil represented the bulk of state revenue and supported an industrializing economy, expanding middle class, and powerful administrative and military apparatus. Drawing on both American and Iranian sources, Gregory Brew outlines how the Pahlavi petro-state emerged from a confluence of forces – some global, some local. He shows how the shah's particular form of oil-based authoritarianism evolved from interactions with American developmentalists, Pahlavi technocrats, and major oil companies, all against the looming backdrop of the United States' Cold War policy and the coup d'etat of August 1953. By placing oil at the centre of the Cold War narrative, Brew contextualises Iran's pro-Western alignment and slide into petrolic authoritarianism. Synthesising a wide range of sources and research methods, this book demonstrates that the Pahlavi petro-state was not born, but made, and not solely by the Pahlavi shah.