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Global oil: some key issues and challenges
Author(s) -
Mikdashi Zuhayr
Publication year - 1989
Publication title -
natural resources forum
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.646
H-Index - 49
eISSN - 1477-8947
pISSN - 0165-0203
DOI - 10.1111/j.1477-8947.1989.tb00339.x
Subject(s) - rivalry , competition (biology) , commodity , intermediary , business , welfare , energy (signal processing) , key (lock) , petroleum , economics , international trade , industrial organization , market economy , commerce , marketing , microeconomics , computer science , computer security , ecology , biology , statistics , mathematics , paleontology
Energy ‐ and in particular petroleum ‐ is an eminently transnational commodity, with abundant supplies in excess of domestic needs available in a few countries, while large actual or potential requirements are present in other countries. This paper examines the forces which have influenced the behaviour and strategies of protagonists ‐ given their interests and objectives. It endeavours to distinguish the fundamental factors from those of a transient or reversible nature. Though recognizing that keen competition and acute rivalry have existed and will continue to exist in the oil‐cum‐energy market, the paper concludes that a measure of dialogue and understanding ‐ possibly verging on some cooperation in certain areas ‐ could well avoid crises and promote global welfare in the interest of consumers, producers and business intermediaries.