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Japan and the Middle East

In: Japan and the Third World

Author

Listed:
  • William R. Nester

    (St John’s University)

Abstract

In less than a quarter of a century, Japan’s economy was transformed from almost self-sufficiency in energy to almost total dependence on foreign energy sources.1 In 1950, domestic coal reserves satisfied about 80 per cent and foreign oil only 7 per cent of Japan’s energy needs. In 1973 95 per cent of Japan’s energy was imported, of which oil accounted for 75 per cent, and Middle East oil almost 80 per cent of total oil imports.2 Japan’s increasingly powerful industrial machine ran on the seemingly endless flow of oil from the Middle East and elsewhere. In these halcyon days before OPEC’s quadrupling of oil prices in December 1973, Tokyo’s energy policy consisted mostly of trying to get the cheapest oil possible to fuel Japan’s average annual 10 per cent growth rate.

Suggested Citation

  • William R. Nester, 1992. "Japan and the Middle East," Palgrave Macmillan Books, in: Japan and the Third World, chapter 9, pages 205-232, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11678-2_10
    DOI: 10.1007/978-1-349-11678-2_10
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    Cited by:

    1. Swati Arora, 2018. "Japan and the Middle East: A Select Bibliography," Contemporary Review of the Middle East, , vol. 5(3), pages 275-284, September.

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