Almost 30 years after the first oil price shock if 1973-4, oil remains of crucial importance to consumers and producers alike. A major analysis of the world's dependency on Middle Eastern oil, this work examines the economic and political reasons behind the fluctuation in the world oil prices and the shifting balance of power between the major oil exporters of the region.
About the Author
Øystein Noreng is Professor of Petroleum Economics and Management at the Norwegian School of Management, with a long experience as a consultant and advisor besides research and teaching.
Table of Contents
List of figures
• The Necessity of Oil
• Foreign Powers and Middle Eastern Oil
• Oil Supplies, OPEC, Oligopoly and Politics
• The Polticial Economy of Oil Prices
• The Persistent Political Risks
• Appendix: Figure data in tabular form