OPEC, the Petroleum Industry, and United States Energy Policy

By Arabinda Ghosh | Go to book overview

ambitious development plans. As Saudi Arabia, Kuwait, and UAE have to bear the brunt of future cutbacks in crude production, this will create more dissension among the OPEC countries in the future. But because of OPEC's uniqueness, this imbalance will not lead to its collapse as a cartel. For it is highly unlikely that OPEC will let its internal squabble seriously damage the cartel that took so long to become effective, especially when there is enough gravy for every member to savor.


NOTES
1.
Walter Levy, "Oil Power," Foreign Affairs ( July 1971): 652-66.
2.
Haim Ben-Shahar, Oil: Prices and Capital ( Lexington, Mass.: D. C. Heath, 1976).
3.
New York Times, July 9, 1974.
4.
President's Task Force on Oil Imports, 1972.
5.
J. E. Akins, "The Oil Crisis: This Time the Wolf Is Here," Foreign Affairs ( April 1973).
6.
Oil Daily, December 5, 1976.
7.
Oil and Gas Journal, September 2, 1981.
8.
M. A. Adelman, "Is the Oil Shortage Real?" Foreign Policy (Winter 1972): 69-107.
9.
Ibid., p. 102.
10.
The Statutes of the Petroleum Exporting Countries, Vienna, Austria, November 1971.
11.
Fuad Rouhani, A History of OPEC ( New York: Praeger, 1972).
12.
Marc S. Nan Nguema, "Twenty-one Years of OPEC," OPEC Bulletin ( October 1981): 16-26.
13.
OPEC Charter, 1961.
14.
Nguema, "Twenty-one Years."
15.
J. Amuzegar, "The Oil Story: Facts, Fiction and Fair Play," Foreign Affairs ( July 1973): 672-89.
16.
Edith Penrose, "Profit Sharing Between Producing Countries and Oil Companies," Economic Journal ( June 1959).
17.
International Monetary Fund, International Financial Statistics, October 1976.
18.
John Due, Public Finance ( Homewood, Ill.: Richard D. Irwin, 1976 edition).
19.
M. A. Adelman, "Oil Shortage."
20.
Adam Smith, The Wealth of Nations ( London: Methuen, 1930 edition).
21.
A. Gary Shilling, "History of Economic Cartels," Wall Street Journal, August 8, 1974.
22.
Haim Ben-Shahar, Oil Prices.
23.
A. Ghosh, "OPEC Game in Price Boosts is Political," Oil Daily, February 12, 1975.
24.
James McKie, "The Political Economy of World Petroleum," American Economic Review ( May 1974): 51-57.
25.
Wall Street Journal, October 11, 1977.

-35-

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OPEC, the Petroleum Industry, and United States Energy Policy
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Figures ix
  • Tables xi
  • Preface xv
  • Abbreviations xvii
  • 1 - Introduction 3
  • Notes 16
  • 2 - The Emergence of Opec 17
  • Notes 35
  • 3 - The Pricing Mechanism of Opec 36
  • Notes 49
  • 4 - Opec and the Multinational Oil Companies 50
  • Notes 64
  • 5 - U.S. Oil Industry: Changing Structure and Performance 65
  • Notes 87
  • 6 - U.S. Oil Industry: Acquisition and Diversification 89
  • Notes 106
  • 7 - Petro-Dollars and Economic Change in OPEC Nations 107
  • Notes 132
  • 8 - Opec versus the Oil-Consuming World 133
  • Notes 148
  • 9 - Strategy against Opec: Henry Kissinger and the Energy Crisis 149
  • Notes 160
  • 10 - Facing the Energy Crisis: U.S. Policy under the Nixon-Ford Administration 161
  • Notes 174
  • 11 - Presidents Carter and Reagan and the National Energy Policy 176
  • Notes 187
  • 12 - The Future of Opec 188
  • Notes 197
  • Selected Bibliography 199
  • Index 203
  • About the Author 206
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