Rapid expansion of the oil industry follows…
1949 CE
Rapid expansion of the oil industry follows because of the increasing postwar demand.
The United States becomes the most influential foreign power in Saudi Arabia.
American interest is directed toward the oil industry, which is owned by US companies.
A considerable number of employees of Aramco arrive in Saudi Arabia, as the country itself is unable to supply the oil company with sufficient skilled workers.
Aramco pays more taxes to the US government in 1949 than the yield to Saudi Arabia in royalties.
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The Near and Middle East
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