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Oil Security
Retrospect and Prospect
Authors:
|
Publisher:
2010
Summary
Oil stands alone among primary commodities in its potential for sending economic shock waves across the world. The value of oil production is one and a half times the world's total production of food grains; demand is unresponsive to price in the short run; and the world's oil resources are heavily concentrated in the Middle East, where political disturbances have been chronic and oil supply is subject to sudden interruption. Together, these factors have made oil a virtual rogue elephant in the world economy since 1973.
This book discusses the oil shocks of 1973-74, 1979-80, and the "minishock" of 1990-91, and examines the possibility of oil shocks over the next twenty years. The authors assess the world market outlook on the basis of underlying trends on world oil supply and demand. They take into account prospects for investment in oil production in the Persian Gulf states, the former Soviet republics, and Latin America; environmental factors and policies; and political uncertainties in the Middle East.
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Bibliographic data
Copyright year
2010
ISBN-Print
978-0-8157-2979-2
ISBN-Online
978-0-8157-1738-6
Publisher
Rowman & Littlefield, Lanham
Language
English
Pages
88
Product type
Book Titles
Table of contents
ChapterPages
Contents No access
1. A Less Troubled Future? No access Pages 1 - 6
2. Oil Market Trends under Surprise-Free Assumptions No access Pages 7 - 43
3. Environmental Uncertainties No access Pages 44 - 55
4. Political Uncertainties No access Pages 56 - 61
5. Possibilities for Oil Disruption No access Pages 62 - 65
6. Policy Responses No access Pages 66 - 85
7. Conclusions No access Pages 86 - 88
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