The environmental, the economic - and indeed the political -
impact of the catastrophic 2010 blowout of BP's well in the Gulf of
Mexico has highlighted the central part played by oil in the modern
world. The fate of millions now depends on the ever-shifting value
of petroleum and on the fortunes of the corporations that deliver
it. The story of oil - how it came to play such a dominant role in
the world economy, who controls its extraction, pricing and supply
- is essential to an understanding of contemporary world politics.
In this acclaimed book, Francisco Parra draws on his long
experience in the oil world, including as the Secretary General of
OPEC, to tell it. "Oil Politics "surveys the tumultuous history of
the international petroleum industry, from its extraordinary growth
between 1950 and 1979, presided over by the seven major oil
companies, to the price revolution of the 1970s and 1980s, to the
re-emergence of Russia as an important but uncertain supplier.
Parra charts the changing power dynamics amongst the major oil
suppliers and examines their relationships with the major oil
importing countries, and how these concerns have impacted on
foreign policy. Oil politics in the twenty-first century remain
fraught with tensions, and this book offers a uniquely accessible
guide to understanding this complex but vitally important
subject.
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