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Arab Oil Policies in the 1970s (RLE Economy of Middle East) - Opportunity and Responsibility (Paperback)
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Arab Oil Policies in the 1970s (RLE Economy of Middle East) - Opportunity and Responsibility (Paperback)
Series: Routledge Library Editions: The Economy of the Middle East
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Until 1973 few people, either in the advanced, industrial countries
or in the developing countries of the Third World, thought
seriously on the issues and complexities involved in the production
and marketing of the oil on which they relied. It was only with the
sudden steep increases in oil prices that the oil industry became a
matter of general discussion, and the Organisation of Petroleum
Exporting Countries (OPEC) became a front page topic for analysis
and comment. However, real understanding of the organisation and
its policies did not accompany this rush of interest and much
confusion has followed. In particular, the Arab exporters have
received the weight of the criticism although they have only a
share in the market and not a monopoly. This book attempts to
instil a greater mutual understanding between oil exporters and
importers, although it is not a wholesale endorsement of Arab
policies, by outlining the major policy areas in this field. It
looks at new policy options and their implications in exploration,
marketing and pricing and at downstream operations such as the
petrochemical and gas industries. In conclusion, this study
identifies the wide-ranging opportunities that the new oil policies
have opened up for the Arab countries, in the national, regional
and international context, and assesses and clarifies the
responsibilities which accompany this success. First published in
1983.
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