There is a widespread view among many observers of international energy that the world will be forced into every growing dependence upon Gulf oil, This paper challenges that view The paper begins with a brief historical survey of the role of Gulf oil in the global energy picture, It then examines the methodological basis of the conventional view of ever rising dependence upon Gulf oil, The next stage is to examine a series of arguments affecting non-GCC supplies, the demand for oil and perceptions of stability and behaviour in the Gulf which may undermine the hypothesis of ever growing dependence.