World Oil: Market or Mayhem?
The world oil market is regarded by many as a puzzle. Why are oil prices so volatile? What is OPEC and what does OPEC do? Where are oil prices headed in the long run? Is “peak oil” a genuine concern? Why did oil prices spike in the summer of 2008, and what role did speculators play? Any attempt to...
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| Format: | Working Paper |
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2009
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| Online Access: | http://hdl.handle.net/1721.1/45659 |
| _version_ | 1826190532350574592 |
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| author | Smith, James L. |
| author_facet | Smith, James L. |
| author_sort | Smith, James L. |
| collection | MIT |
| description | The world oil market is regarded by many as a puzzle. Why are oil prices so volatile? What is OPEC and what does OPEC do? Where are oil prices headed in the long run? Is “peak oil” a genuine concern? Why did oil prices spike in the summer of 2008, and what role did speculators play? Any attempt to answer these questions must be informed and disciplined by economics. Such is the purpose of this essay: to illuminate recent developments in the world oil market from the perspective of economic theory. |
| first_indexed | 2024-09-23T08:41:43Z |
| format | Working Paper |
| id | mit-1721.1/45659 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T08:41:43Z |
| publishDate | 2009 |
| record_format | dspace |
| spelling | mit-1721.1/456592019-04-09T19:16:19Z World Oil: Market or Mayhem? Smith, James L. The world oil market is regarded by many as a puzzle. Why are oil prices so volatile? What is OPEC and what does OPEC do? Where are oil prices headed in the long run? Is “peak oil” a genuine concern? Why did oil prices spike in the summer of 2008, and what role did speculators play? Any attempt to answer these questions must be informed and disciplined by economics. Such is the purpose of this essay: to illuminate recent developments in the world oil market from the perspective of economic theory. Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. 2009-06-29T18:52:35Z 2009-06-29T18:52:35Z 2008 Working Paper 2008-015 http://hdl.handle.net/1721.1/45659 MIT-CEEPR;08-015WP application/pdf |
| spellingShingle | Smith, James L. World Oil: Market or Mayhem? |
| title | World Oil: Market or Mayhem? |
| title_full | World Oil: Market or Mayhem? |
| title_fullStr | World Oil: Market or Mayhem? |
| title_full_unstemmed | World Oil: Market or Mayhem? |
| title_short | World Oil: Market or Mayhem? |
| title_sort | world oil market or mayhem |
| url | http://hdl.handle.net/1721.1/45659 |
| work_keys_str_mv | AT smithjamesl worldoilmarketormayhem |