The Politics of the Global Oil Industry: An Introduction

The Politics of the Global Oil Industry: An Introduction

The Politics of the Global Oil Industry: An Introduction

The Politics of the Global Oil Industry: An Introduction

Synopsis

The petroleum industry is among the most lucrative and most important in the world, and its impact within the realm of international politics is tremendous (although it can be overstated). Taking a well-balanced and objective approach to the complicated web of political and economic threads that make up the fabric of the oil industry, Falola and Genova introduce the most salient aspects in clear language, offering cogent and up-to-date information about the countries, companies, international organizations, and people who shape the contemporary history of the "black gold."

Excerpt

Since its discovery, petroleum has become the most lucrative and important industry in the world. This so-called black gold is considered one of the most important global resources. The oil industry transformed within just a few decades from a local to a global business, bringing into contact diverse peoples and cultures.

The writing of this book grew out of the need for a synthesis of international politics and oil, which affects everyone but is understood by few. Using a multidisciplinary approach, The Politics of the Global Oil Industry serves as an introduction to the oil industry in its international context. It captures the diversity and complexity of the global oil industry. It would be unrealistic to try to discuss all the world's oil-producing countries; instead, we have highlighted and explored the significant elements of the world's petroleum industry broadly. To make the book accessible to those unfamiliar with many of the oil-producing countries, we have limited our examples to seven major producers (Iraq, Mexico, Nigeria, Norway, Russia, Saudi Arabia, and Venezuela), while indicating many of the challenges that all oil-producing countries face. We hope this book will be useful to students as well as general readers who wish to become acquainted with the principal characters, events, and trends within the international oil industry.

This project would not have been possible without the support of our colleagues, family, and friends. We extend a special thanks to Jacquelynne McLellan for her invaluable comments on various drafts and many helpful suggestions. We would also like to thank those who shared in our enthusiasm for the project: Lawrence Moore and Akin Alao. This project would not have been possible without the help of our knowledgeable fac-

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