Oil price revolution of 1973--1974

Journal Article · · J. Energy Dev.; (United States)

OSTI ID:6021201

El Serafy, S

An overview is given of the 1973--74 oil price revolution in terms of three interrelated issues: price, the balance of international payments, and development policy in the oil-producing countries. How the implications of any of these issues directly affects the others is examined. High oil prices, for example, have prompted the oil importers to look for new sources of energy, while the oil producers must look for new sources of income. If the consumers want the producers to increase supplies until alternative fuels are available, the consumers must cooperate by offering a fair price for oil and the opportunity to make international investments that will bear a higher return.

• Research Organization: World Bank, Washington, DC
• OSTI ID: 6021201
• Journal Information: J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 4:2; ISSN JENDD
• Country of Publication: United States
• Language: English

Related Subjects

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DEVELOPING COUNTRIES
ECONOMIC IMPACT
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ENERGY SOURCES
FOSSIL FUELS
FUELS
INCOME
INTERNATIONAL COOPERATION
PETROLEUM