Power and politics in world oil
Though there has recently been more oil in the marketplace than anyone knows what to do with, a feeling of apprehension persists. We know that oil is a fi. nite resource upon which the world is profoundly dependent. We remember how a handful of producers shook the market for this critical commodity...
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| Format: | Article |
| Language: | en_US |
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© Massachusetts Institute of Technology
2022
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| Online Access: | https://hdl.handle.net/1721.1/141527 |
| _version_ | 1826191172171726848 |
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| author | Choucri, Nazli |
| author_facet | Choucri, Nazli |
| author_sort | Choucri, Nazli |
| collection | MIT |
| description | Though there has recently been more oil in the marketplace than anyone knows what to do with, a feeling of apprehension persists. We know that oil is a fi. nite resource upon which the world is profoundly dependent. We remember how a handful of producers shook the market for this critical commodity almost ten years ago, causing a
fourfold price increase in a few weeks. We sense that these producers have since 1973 consolidated the position that gave them unprecedented control of the market. Indeed, the 13 producing countries that are now members of the Organization of Petroleum Exporting Countries (OPEC) today provide one-third of the world's oil; half of all exported oil comes from the Middle East. It is easy to believe that industrial countries are increasingly at the mercy of these oil- exporting countries, whose political and religious traditions are so vital and different from those of the West. |
| first_indexed | 2024-09-23T08:51:37Z |
| format | Article |
| id | mit-1721.1/141527 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T08:51:37Z |
| publishDate | 2022 |
| publisher | © Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1415272022-05-05T16:00:26Z Power and politics in world oil Choucri, Nazli Though there has recently been more oil in the marketplace than anyone knows what to do with, a feeling of apprehension persists. We know that oil is a fi. nite resource upon which the world is profoundly dependent. We remember how a handful of producers shook the market for this critical commodity almost ten years ago, causing a fourfold price increase in a few weeks. We sense that these producers have since 1973 consolidated the position that gave them unprecedented control of the market. Indeed, the 13 producing countries that are now members of the Organization of Petroleum Exporting Countries (OPEC) today provide one-third of the world's oil; half of all exported oil comes from the Middle East. It is easy to believe that industrial countries are increasingly at the mercy of these oil- exporting countries, whose political and religious traditions are so vital and different from those of the West. 2022-04-03T03:57:28Z 2022-04-03T03:57:28Z 1982 Article https://hdl.handle.net/1721.1/141527 Choucri, N. (1982). Power and politics in world oil. Technology Review, 85, 24. en_US Attribution-NonCommercial-NoDerivs 3.0 United States http://creativecommons.org/licenses/by-nc-nd/3.0/us/ application/pdf © Massachusetts Institute of Technology |
| spellingShingle | Choucri, Nazli Power and politics in world oil |
| title | Power and politics in world oil |
| title_full | Power and politics in world oil |
| title_fullStr | Power and politics in world oil |
| title_full_unstemmed | Power and politics in world oil |
| title_short | Power and politics in world oil |
| title_sort | power and politics in world oil |
| url | https://hdl.handle.net/1721.1/141527 |
| work_keys_str_mv | AT choucrinazli powerandpoliticsinworldoil |