28 Mar , 2015
Enduring stability has eluded Iran ever since British Petroleum discovered oil at Majid Solemyan in the country in 1908. It completely transformed the society and polity in the country. The invention of the internal combustion engine engendered the geo-political metamorphosis of Iran and other countries in the Gulf region. In fact it was oil that delayed the independence of countries like Kuwait, UAE and Qatar. They achieved independence only in the later half of the 20th century. Most of these countries owe their status as a state due to petroleum.
Initially, the revenues generated by oil were shared between British Petroleum and the Iranian Government. Attempts to nationalise the oil industry in the early ’50s were met with a vicious reaction from the world powers. In the early ’50s the CIA and British intelligence had colluded with the Shah to overthrow Prime Minister Mossadeq, a step which was ascribed to the latter’s decision to nationalise Iran’s oil industry.
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