This book charts the story of the raw material that shaped the world's history in the twentieth century, and with it the development of modern Britain. Ranging from the first explorations, through oil-fuelled wars and environmental crises, this book examines the strategic, economic and social importance of oil. Until the discovery of North Sea oil in the 1970s, Britain had virtually no known oil reserves yet by the early twentieth century British companies were producing oil across the Middle East, Russia and America. How did that happen and why have British companies remained internationally important ever since? How have British domestic and foreign policies been dictated by oil? And how have the government and oil companies reacted to the growing importance of environmental issues? From Suez and the 1973 Arab oil embargo to the wrecking of the Torrey Canyon and climate change, this is a comprehensive survey of modern Britain, oil and world history.