Oil Trade: Politics and Prospects

Oil Trade: Politics and Prospects

by J. E. Hartshorn
     
 

ISBN-10: 052114745X

ISBN-13: 9780521147453

Pub. Date: 03/02/2011

Publisher: Cambridge University Press

After a century of exponential growth, the international oil industry suddenly slowed down in the 1970s, faltered during the 1980s, and by 1991 was only just about back to its 1979 level. That break in trend of its dominance in world energy became clear after 'the Opec decade' from 1973 onwards had gained an intoxicating surge of riches for oil-exporting countries.…  See more details below

Overview

After a century of exponential growth, the international oil industry suddenly slowed down in the 1970s, faltered during the 1980s, and by 1991 was only just about back to its 1979 level. That break in trend of its dominance in world energy became clear after 'the Opec decade' from 1973 onwards had gained an intoxicating surge of riches for oil-exporting countries. This book is a descriptive analysis of current influences upon the world oil trade. It is concerned with a central unchanged paradox of the industry - its tendency to maximise the production of high-cost rather than low-cost oil. It follows the rise and decay of Opec monopoly power in the crude market, and shows how growth in the international oil business has almost ceased since the late seventies, exploring the reasons behind this slowdown - not all attributable to Opec or to the nationalisation of major oil companies. The author has had more than twenty-five years of practical consultancy in petroleum economics. His book is objective and forward-looking: it is not a history.

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Product Details

ISBN-13:
9780521147453
Publisher:
Cambridge University Press
Publication date:
03/02/2011
Series:
Cambridge Energy and Environment Series
Edition description:
Reissue
Pages:
324
Product dimensions:
5.98(w) x 9.02(h) x 0.71(d)

Table of Contents

List of figures
List of tables
List of tabular boxes
Preface
List of abbreviations
1Pause or plateau?1
2A discontinuity in trade31
3Cost: concepts and comparisons50
4Ambitions of autarky?76
5Still the prime mover93
6An industry restructured114
7Governments in the oil business138
8The Opec performance169
9A confusion of prices195
10Perspectives of supply225
11A contrast of expectations252
12A sustainable paradox?272
Appendix 1 What are oil reserves?288
Appendix 2 A note on energy and oil statistics292
Bibliography294
Index299

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