The Political Economy of World Energy: A Twentieth-Century Perspective

By John G. Clark | Go to book overview
metamorphosed into a crisis of overconsumption which, over an uncertain time span, imperils the globe. Adhering to Simon's prescriptions will assure that the worst occurs sooner rather than later. While everyone wishes to prevent the worst from happening, just how will we protect ourselves? At the least, global cooperation is demanded, and not of the sort that may, in 1990, lead to the ratification of a treaty by some thirty nations permitting the exploration and development of Antarctica's mineral resources. Leadership must emanate from those nations with the greatest financial and technological wealth. People in the modern, affluent democracies must demonstrate awareness that their standards of living, or those of their children, are directly threatened by what happens to the tropical forests, the ozone layer, Lake Como and the Finger Lakes, and the birds of Antarctica. They must acknowledge that what happens is irrevocably linked to their energy consumption habits. If resolutions of this global dilemma are not blowing on the wind, more than metaphorically, the tragic consequences of irresolution are.
Notes
1. A theory to this effect was proposed by H. Hotelling, "The Economics of Exhaustible Resources", Journal of Political Economy, 39, no. 2 ( 1931), pp. 137-75. His ideas stirred up great controversy among resource conservationists, demanding public intervention, and neo-classical economists, some of whom accept occasional public regulation and do not advocate uninhibited private action.
2. Adelman, The World Petroleum Market, Baltimore: The Johns Hopkins University Press for Resources for the Future ( 1972); Frankel, Essentials of Petroleum: A Key to Oil Economics, 2nd edn, New York: A.M. Kelley ( 1969).
3. E. Penrose, ed., The Large International Firms in Developing Countries: The International Petroleum Industry, London: Allen & Unwin ( 1968) and "OPEC and the World Oil Market of the 1980s", in D. Hawdon, ed., The Energy Crisis: Ten Years After, London: Croom Helm ( 1984); H. Maull , Europe and World Energy, London: Butterworths ( 1980), pp. 200-7.
4. E. J. Wilson III, "World politics and international energy markets", International Organization, 41 (Winter 1987), pp. 125-49; P. F. Cowhey, The Problem of Plenty: Energy Policy and International Politics, Berkeley: University of California Press ( 1985); A. Roncaglia, The International Oil Market: A Case of Trilateral Oligopoly, edited by J. A. Kregel, Basingstoke: Macmillan ( 1985).
5. New York Times, February 2, 1989. See also the gloomy assumptions of World Oil, December 1987, p. 9 and April 1988, pp. 75-82.
6. World Resources Institute, World Resources 1988-9, New York: Basic Books ( 1988), p. 306.

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The Political Economy of World Energy: A Twentieth-Century Perspective
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Tables xi
  • Maps xv
  • Abbreviations xvii
  • Preface xix
  • 1 - A Prospectus 1
  • Notes 8
  • 2 - Energy and the Maturation of Industrial Economies in the West, 1900-18 9
  • Notes 44
  • 3 - The Search for Energy During the Interwar Years 51
  • Notes 88
  • 4 - Energy Flows in a Politically Polarized World 95
  • Notes 138
  • 5 - The Owners of the World's Petroleum Resources 146
  • Notes 179
  • 6 - Cheap Energy, Security, and the Industrialized Nations, 1960-73 186
  • Notes 224
  • 7 - The West and the Energy Crisis of 1973-8 230
  • Notes 267
  • 8 - The Lesser Developed Countries and the Oil Boom of the 1970s 274
  • Notes 311
  • 9 - A Second Energy Crisis: the Iranian Revolution and Its Aftermath 319
  • Notes 358
  • 10 - Powering Energy Transitions and Transactions: a Summary and Conclusions 365
  • Notes 376
  • Index 378
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