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Book Review
| Crude Politics: The California Oil Market, 1900–1940. By Paul Sabin. (Berkeley: University of California Press, 2005. xxii, 307 pp. $39.95, ISBN 0-520-24198-3.)
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| Paul Sabin's new book, Crude Politics, offers an original and insightful approach to a chapter in the story of one of the world's most important natural resources: petroleum. Between 1900 and 1940, California's efforts to harvest its petroleum bounty did not resemble the period of individual resource extraction seen during the rush for gold a half century earlier; and that observation is a primary component of Sabin's argument: By 1900 the maturation of the nineteenth-century ethic of extraction had moved beyond individuals to also inculcate the American systems of law and government to the point that it could dominate state politics. |
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Sabin's core argument is that the conceptual division between government and market institutions is a false one. For American capitalism, he argues that: "In fact, governments constructed the legal framework for the market" and that by doing so "they enabled market institutions to shift with new developments" (p. 9). |
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