The Prize: The Epic Quest for Oil, Money, and Power
What events and situations led to tensions between the U.S. and Britain?
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The Shah adjusted the royalties to a 50/50 model in Iran. The U.S. pressured Britain to accept this change. This continued through the Korean War as the U.S. needed aviation fuel. The British were further angered when American companies gave 1 percent of their holdings in Iran to Iricon, making the US a major player in Middle Eastern oil.