OPEC, the Petroleum Industry, and United States Energy Policy

OPEC, the Petroleum Industry, and United States Energy Policy

OPEC, the Petroleum Industry, and United States Energy Policy

OPEC, the Petroleum Industry, and United States Energy Policy

Synopsis

"This [book] has some virtues to recommend it. It is analytical. It refuses blanket condemnation or blanket praise for OPEC, the oil companies, or the oil-consuming countries. Ghosh (Rutgers) does tend to sympathize with the OPEC countries: he roots for the underdogs and is impressed with their handling of the oil industry; but the book is documented with lots of statistical tables to permit readers to make their own judgments. Treatment is historical, that is, Ghosh traces the actual development of the industry, OPEC, and the responses of the oil consumers." - Choice

Excerpt

This study is an outgrowth of my contributions to The Oil Daily during 1975-1979. The main problem of writing on a topical subject, of course, is that data are constantly changing and become dated before they go through the publication process. However, I have tried to deal with each section in its historical perspective as well as the future it holds in its past.

The principal areas of original research in the book are the discussions of changing structure and performance of the U.S. petroleum industry where I collected and analyzed a body of data not explored before. Along with its process of acquisitions and diversifications, the book also brought forth the dynamics of U.S. oil industry as witnessed during the last twenty-five years (1954-1979).

My study has also focused on the delay and squabbles in formulating a coherent energy policy by the U.S. Government and gives a history of that effort after the breakout of the energy crisis in October 1973. We hope and pray that we have learned lessons from that episode. Only by analyzing the past may we not be subjected to repeat it in future, if the energy situation becomes so desperate again.

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