A nice introductory article on the topic by Toby Craig Jones. The Journal of American History. Oxford Journals. 2012. 99 (1): 208-218.
America, Oil, and War in the Middle East
“It might be tempting to argue that the escalating involvement of the United States and its history of militarism and military engagement in the Gulf region have provided a kind of security for the region. After all, oil has continued to flow, the network of oil producers has remained the same, and thus the primary interests of the United States in the region have been served. But three decades of war belie this argument. War is not tantamount to security, stability, or peace. Even in the periods between wars in the region the violence carried out by regimes against their own subjects makes clear that peace is not always peaceful. The cost has been high for the United States and especially for people who live in the Middle East. In thirty years of war, hundreds of thousands have died excruciating and violent deaths. Poverty, environmental disaster, torture, and wretched living conditions haunt the lives of many in Iraq, Iran, and elsewhere in the region. Of course, the burden of death and destruction does not fall entirely on the United States and its policy of militarization. The politics of war have primarily served the interests of regional leaders who have, often from a position of weakness, exported violence to deflect internal challenges to their authority. And international political rivalry, particularly during the Cold War, drew in the other global powers, most notably the Soviet Union, which also helped facilitate insecurity and disorder in the Middle East.”