Oil Supply Crises: Cooperation and Discord in the West, by Vessela
Chakarova, offers the most comprehensive, up-to-date analysis of
consumer countries' policies and reactions to oil supply shortages.
In addition to being a valuable source of information on oil market
dynamics, it provides a deep theoretical understanding of one of
the most critical issues in international relations: inter-state
cooperation. This volume employs a structured, focused comparison
to study European consumer countries' cooperation in times of oil
supply shortages. There have been fifteen such crises since the
Second World War, three of which with dramatic consequences for the
world economy. This analysis evaluates European cooperative efforts
in seven of these cases, starting with the Abadan crisis in 1951.
The cases are selected on the basis of their magnitude and economic
impact. In particular, the study looks at intergovernmental
negotiations within existing international bodies prior to, during,
and immediately after the crisis. This study suggests that
institutions are more likely to facilitate interstate cooperation
in the presence of a strong leader-a role, which in the case of oil
was assumed by the United States until the early 1970s. Cooperation
in the oil issue-area has been the subject of only a few studies,
none of which provides a systematic and comprehensive analysis.
They are also limited in their scope and findings. Oil Supply
Crises fills a significant gap in the literature on oil supply
shortages and cooperation.
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