Oil and the Western Economic Crisis

Oil and the Western Economic Crisis PDF

Author: Helen Thompson

Publisher: Springer

Published: 2017-05-18

Total Pages: 118

ISBN-13: 3319525093

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This book explains the place of oil in the economic and political predicaments that now confront the West. Thompson explains the problems that the rising cost of oil posed in the years leading up to the 2008 crash, and the difficulties that a volatile oil market now poses to economic recovery under the conditions of high debt, low growth and quantitative easing. The author argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations.

The Coming Oil Crisis

The Coming Oil Crisis PDF

Author: Colin John Campbell

Publisher: Multi-Science Publishing Company

Published: 1997

Total Pages: 232

ISBN-13:

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"This book is about the world's endowment of oil. It is a very important subject, considering that cheap oil-based energy has been the lifeblood of the world's economy over the best part of this century." -- P. 5.

Oil Crisis

Oil Crisis PDF

Author: Colin John Campbell

Publisher: multi-science publishing

Published: 2005

Total Pages: 428

ISBN-13: 9780906522394

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"Colin Campbell is renowned for his lucid earlier work, 'The coming oil crisis'. Eight years on, events have proved his analysis right. Now, he argues that the oil crisis has come. The familiar technical explanation of the crisis is carefully made again : essentially, that there is no more oil to be found. That fact is beginning to manifest itself in heightened competition for the remaining resource ; which is why America invaded Iraq ; why Central Asia is in turmoil ; why oil is persistently priced above $50/barrel (and why Goldman Sachs think $100 a barrel is not too unlikely in the near future). The problem - of an oil-less world - is beyond the grasp of politicians. They can fiddle with ideas about renewables or hydrogen but they, along with most of humanity, have not really grasped that it is the oil economy that enables about a 7 billion world population to be sustained. A wholly new world is imminent. It is not likely to be very pleasant. Dr Campbell outlines our grim future." -- book cover.

The Oil Crisis

The Oil Crisis PDF

Author: Fiona Venn

Publisher: Routledge

Published: 2016-07-01

Total Pages: 210

ISBN-13: 1317883993

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In October 1973 two crises – one economic, one political – intersected, with dramatic and long term consequences for international relations. On 6 October, Egypt and Syria launched an attack on Israel, and within a few days the major Arab oil producers announced their support by use of the ‘oil weapon’, including a boycott of supplies for countries friendly to Israel and a programme of production cuts. This was followed by the unilateral declaration of a steep increase in the price of oil by the Organization of Petroleum Exporting Countries (OPEC). The result was international panic and world recession. Crude oil prices soared by a massive fourfold in just three months. The West's vulnerability had been exposed: it was being held hostage to oil. Yet, despite efforts to address this dependence on oil imports in following years, the 1979 Iranian Revolution triggered a further upward surge in prices. Today, the importance of oil remains at the forefront of the West's foreign policy calculations in the Middle East. In this fascinating and timely new look at the oil crisis, Fiona Venn examines these issues and the more unexpected effects of the crisis. She asks just how much really changed in the economic balance of power. Most importantly she argues that OPEC was used as a scapegoat for the world recession, which had been already underway when the crisis detonated.

The Myth of the Oil Crisis

The Myth of the Oil Crisis PDF

Author: Robin M. Mills

Publisher: Praeger

Published: 2008-08-30

Total Pages: 344

ISBN-13:

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With oil around $100 a barrel, drivers wince whenever they pull into the gas station and businesses watch their bottom lines shrink. Watch out, say doomsayers, it will only get worse as oil dries up. It's a plausible argument, especially considering the rate at which countries like China and India are now sucking up oil. Even more troubling, the world's largest oil fields sit in geopolitical hotspots like Iran and Iraq. Some believe their nations need to secure remaining supplies using military force, while others consider dwindling supplies a blessing that will help solve the problem of global warming. But wait—is it really the end of oil? Absolutely not, says geologist, economist, and industry-insider Robin Mills. There is no other book by an industry insider that effectively counters the peak oil theory by showing where and how oil will be found in the future. There also is no other book by an insider that lays out an environmentally and geopolitically responsible path for the petroleum industry and its customers. The Myth of the Oil Crisis, written in a lively style but with scientific rigor, is thus a uniquely useful resource for business leaders, policymakers, petroleum industry professionals, environmentalists, and anyone else who consumes oil. Best of all, it offers an abundance of one commodity now in short supply: hope for the future.

The oil crisis in the 1970s and its consequences for the world economy

The oil crisis in the 1970s and its consequences for the world economy PDF

Author: David Wieblitz

Publisher: GRIN Verlag

Published: 2006-07-23

Total Pages: 22

ISBN-13: 3638525759

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Essay from the year 2004 in the subject Business economics - Economic and Social History, grade: 2,0, Turku School of Economics (Department of economics), course: Economic History and Development, language: English, abstract: Nowadays oil is still the world’s most important single source of energy. The world’s industry is influenced by the cost of energy which, in turn, is influenced by the price of crude oil, taxation and other factors. If the cost of energy goes up, then prices of goods and services will increase, subsequently it will cause lower availability of products, higher transportation’s costs and in turn lower economic growth. The latter will influence negatively the efficiency and productivity of the whole world’s industry. This means that if oil prices go too high or too low there will be unlikely consequences for both oil producers and oil consumers. This paper analyzes the oil crisis of 1970ies. The first section concerns the history of the October War (6 – 23 October 1973) that led to the oil embargo, one of the most dramatic events for the world economy. The embargo lasted six months, beginning on 17 October 1973 and ending on 18 March 1974. The second section deals with the impact of the energy crisis on different countries. It caused terrible consequences for the economies of all industrialized countries such as recession, inflation, unemployment, lost economic growth and stagflation. But the essential question is whether the energy crisis was a real shortage or mainly a matter of politics.

The Netherlands and the Oil Crisis

The Netherlands and the Oil Crisis PDF

Author: Duco Hellema

Publisher: Amsterdam University Press

Published: 2004

Total Pages: 321

ISBN-13: 9053564853

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This incisive study examines the role of the Netherlands in the October War and the oil crisis of 1973. The authors contend that the actions of the Dutch government were hypocritical: the Dutch government faced a domestic crisis when an oil embargo was levied against them by Arab countries for selling arms to Israel; yet after oil began arriving again two months later, the Dutch rejected a proposal for a stricter interventionist energy policy within the European Union. A probing and thought-provoking study, The Netherlands and the Oil Crisis draws on previously unavailable archival sources to shed new light on a pivotal moment in contemporary Dutch history.