Oil Security: Retrospect and Prospect

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9780815729792: Oil Security: Retrospect and Prospect
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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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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 in world oil supply and demand.

About the Author:



Edward R. Fried is a senior fellow in the Foreign Policy Studies program at Brookings and a coeditor of Third World Debt (1989) and Building a Canadian-American Free Trade Area (1987). He served as President Carter's adviser on international energy and was U.S. executive director at the World Bank.



Philip H. Trezise is a senior fellow in the Foreign Policy Studies program at Brookings and a coeditor of Third World Debt (1989) and Building a Canadian-American Free Trade Area (1987). He was assistant secretary of state during the Nixon administration.


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Edward R. Fried; Philip H. Trezise
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Book Description BROOKINGS INSTITUTION, United States, 1993. Paperback. Condition: New. New.. Language: English. Brand new Book. 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. Seller Inventory # APC9780815729792

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Book Description BROOKINGS INSTITUTION, United States, 1993. Paperback. Condition: New. New.. Language: English. Brand new Book. 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. Seller Inventory # TNP9780815729792

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Book Description BROOKINGS INSTITUTION, United States, 1993. Paperback. Condition: New. New.. Language: English. Brand new Book. 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. Seller Inventory # APC9780815729792

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Book Description Brookings Inst Pr. Paperback. Condition: New. 100 pages. Dimensions: 9.0in. x 6.1in. x 0.3in.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 worlds total production of food grains; demand is unresponsive to price in the short run; and the worlds 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 combined since 1973 to make oil a virtual rogue elephant in the world economy. In 1973-74 and in 1979-80, interruptions or the threat of interruptions of oil supplies from the Persian Gulf caused widespread economic distress - inflation, unemployment, loss of business confidence - from which recovery was slow and painful. In 1990, when Iraq moved to seize Kuwait and to threaten Saudi Arabia, there was a prompt and aggressive international response, largely to protect Saudi Arabias oil fields and to maintain the world supply of oil. With the Gulf War came a temporary flare-up of inflation and its ramifications were enough to qualify the 1990-91 episode as the third oil shock, or more accurately, a minishock. In this book, the authors assess the world market outlook based on underlying trends in 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. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Paperback. Seller Inventory # 9780815729792

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Book Description Brookings Institution Press, 1993. Paperback. Condition: NEW. 9780815729792 This listing is a new book, a title currently in-print which we order directly and immediately from the publisher. For all enquiries, please contact Herb Tandree Philosophy Books directly - customer service is our primary goal. Seller Inventory # HTANDREE01373544

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