Oil and power after the Gulf war
- Georgetown Univ., Washington, DC (United States)
What are the implications of the Gulf War for the world oil market and for global energy security On initial examination, there would seem to be little cause for concern, and no fewer than three separate factors contribute to such a conclusion. First, the devastating defeat suffered by Iraq suggests that both past and future military threats can be minimized. Second, the success with which producing and consuming countries managed to cope with the purely oil-related components of the Gulf crisis suggests that both the supply and the price of petroleum are manageable. Third, regardless of policy choices made by these countries, elasticities of both supply and demand appear to insure that world energy markets can and will cope with potential disruptions. However, an assessment of oil and power in the aftermath of the Gulf War provides evidence for concluding that the risks were in fact very substantial and that avoidance of serious upheaval was by no means inevitable. 31 refs., 2 tabs.
- OSTI ID:
- 7115788
- Journal Information:
- International Security; (United States), Journal Name: International Security; (United States) Vol. 17:1; ISSN INTSDR; ISSN 0162-2889
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
ARABIAN SEA
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
INDIAN OCEAN
INDUSTRY
INSTITUTIONAL FACTORS
MARKET
MILITARY STRATEGY
PERSIAN GULF
PETROLEUM
PETROLEUM INDUSTRY
POLITICAL ASPECTS
RESERVES
RESOURCES
SEAS
SECURITY
SUPPLY AND DEMAND
SURFACE WATERS
WARFARE