Reasons Of The United States Is Not The Establishment Of An International Oil Mechanism (1945-1974)

Firstly, a core assumption that U.S. oil hegemony could replace the International petroleum regimes to achieve the key objectives in the filed of oil will be given to explain the fact that the United States didn't establish the International petroleum regimes before 1974. This assumption also leads to the inference that the decline of U.S. oil hegemony may make the establishment of international regimes. Then, two main concept including the key objective and oil hegemony will be defined and their composition will be analyzed. The assumption will be demonstrated by the discussion that the United States used its oil hegemony to solve three oil crises before the 1974. Finally, this paper further demonstrates the establishment of this inference by the establishment of the International Energy Agency during the first oil crisis.