Supply instability and oil-market behavior

Journal Article · Tue Jan 01 04:00:00 EST 1980 · Energy Syst. Policy; (United States)

OSTI ID:5246009

Jacoby, H D; Paddock, J L

The disruption in world oil markets that was triggered by the 1978 to 1979 Iranian revolution is analyzed. The resultant price rises are explored in the context of the behavior of the spot market and key OPEC countries. In particular, the economic and political roles of excess oil supply in the Persian Gulf nations are discussed. Conclusions for the likely future are presented together with the implications for United States policy. Constructive steps could be taken to create a data series on secondary stocks in the major consuming countries and the strategic oil stockpile could be used to moderate price increases. It is prudent to assume that recent energy-supply and price situations will continue and to take whatever steps are necessary to moderate the effects. 11 references, 4 tables.

• Research Organization: Massachusetts Inst. of Tech., Cambridge
• OSTI ID: 5246009
• Journal Information: Energy Syst. Policy; (United States), Journal Name: Energy Syst. Policy; (United States) Vol. 3:4; ISSN ESYPB
• Country of Publication: United States
• Language: English

Related Subjects

01 COAL, LIGNITE, AND PEAT
015000 -- Coal
Lignite
& Peat-- Economic
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
DATA
DATA COMPILATION
ENERGY POLICY
ENERGY SHORTAGES
ENERGY SOURCES
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
GOVERNMENT POLICIES
INFORMATION
MARKET
NUMERICAL DATA
PETROLEUM
PRICES
RESERVES
RESOURCES
SHORTAGES
STRATEGIC PETROLEUM RESERVE
SUPPLY AND DEMAND