Master's Thesis from the year 2012 in the subject Business economics - Economic Policy, grade: Distinction/ Auszeichnung, Kingston University London, course: International Relations/ International Political Economy, language: English, abstract: This master thesis is analysing the International Political Economy of Oil. In order to do so, it is describing the impact and the relevance of oil in our everyday life. Furthermore, it outlines the major political incidences that took place in the period between the early 1950s and today, which can be connected to oil. This paper also analysing these incidences through the theoretical perspective of IPE and IR realism as well as liberalism from a Western point of view. It hereby shows that from the early 1950s until today the West was/is following in mot cases a strongly realist approach when it comes the precious resource we call oil. This paper illustrates cases from the overthrow of the Iranian regime in 1953 until the race for resources in the Arctic today.