Will Saudi-US relations endure Syria’s debacle?
http://www.arabnews.com/news/526801
Will Saudi-US relations endure Syrias debacle?
Abdel Aziz Aluwaisheg
Published Monday 17 February 2014
This past weekend marked the 69th anniversary of the meeting between King Abdul Aziz, the first monarch of Saudi Arabia, and US President Franklin Roosevelt. Since then, Saudi-US relationship has endured and prospered, overcoming many challenges in the process. But can it withstand US policy failure in Syria and the nuclear deal with Iran?
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The following year, in May 1933, Saudi Arabia and Standard Oil of California (SoCal) signed a deal to prospect for oil in the Kingdom. Although SoCal had struck oil in Bahrain in 1932, the new concession turned out to be the first major American oil and economic interest in the region.
Under the San Remo Petroleum Agreement of 1920, US oil companies were excluded from major oil deals in the region, where British companies ran the oil business. Saudi Arabia was abandoned as unpromising by British companies, leaving the door ajar for the Americans to fill in, supported by a newly adopted open door oil policy, encouraging oil companies to explore opportunities in the region to meet the growing supply shortages.
Saudi Arabia was impoverished and in need of funds to finance the newly unified country, and as such welcomed the new American interest in its oil prospects.