World oil and geopolitics to the year 2010
Journal Article
·
· Journal of Energy and Development
OSTI ID:426154
This paper focuses on the interplay of market forces and politics in the world oil market projected to the year 2010. It argues that world oil demand will increase considerably, with Asian demand growing the fastest. Given that the growth of oil supply of producers outside the Organization of the Petroleum Exporting Countries (OPEC) will be trivial, the call on OPEC oil will increase substantially. Yet, given their declining per-capita oil revenues, OPEC members may not be able to make timely investments in required upstream projects. If this happens, the supply constraint will lead to higher prices and intensified international competition for Arabian/Persian Gulf oil. Thus, foreign investment will be needed increasingly in OPEC states if prices are to remain stable. But geopolitical and institutional barriers to foreign investment in many OPEC members hinder foreign investment. It is imperative that major players in the world oil market cooperate to reduce such barriers in time to ensure that supply corresponds to rising demand. 22 refs., 8 figs., 10 tabs.
- OSTI ID:
- 426154
- Journal Information:
- Journal of Energy and Development, Journal Name: Journal of Energy and Development Journal Issue: 1 Vol. 21; ISSN 0361-4476; ISSN JENDD2
- Country of Publication:
- United States
- Language:
- English
Similar Records
Future of world oil
Impact of Mexican oil on the world oil market
Geopolitics of oil
Book
·
Wed Dec 31 23:00:00 EST 1975
·
OSTI ID:7295469
Impact of Mexican oil on the world oil market
Technical Report
·
Mon Oct 01 00:00:00 EDT 1979
·
OSTI ID:5628191
Geopolitics of oil
Book
·
Mon Dec 31 23:00:00 EST 1979
·
OSTI ID:6815053