Originally published in 1981, this book discusses the development of higher cost North Sea gas and oil fields. Starting with the perceived need to develop these higher cost fields, the book focuses on their role in the policy interplay between government and industry. What is high cost, it is argued, is not only economically but also institutionally determined and through a comparative analysis of British and Danish policies with regard to high cost fields the author maintains that the role of institutional factors has been underplayed.

Most energy analysts now predict an imminent global energy crisis. With the rapid industrialization of places like China and India world oil demand has soared while geo-political tensions and natural disasters have thrown supply questions to the fore. This book considers the turbulence in the oil industry as a process of industrial change. In a unique analysis of the issues, leading commentators and international specialists present a ground-breaking view of the future of the industry; one where corporations are considered to be the dependent variables, not the future production and demand for oil and gas. Particular attention is paid to 'mega-mergers', the on-going process of downsizing and outsourcing and the significance of such restructuring for the. A further feature of the work is the use made of recent theories of the firm, demonstrating how such theories can be used to analyse one of the world's most critical industries. The distinctive approach of this book will help extend readers' understanding of the oil industry beyond the more conventional studies of the industry.

Originally published in 1981, this book discusses the development of higher cost North Sea gas and oil fields. Starting with the perceived need to develop these higher cost fields, the book focuses on their role in the policy interplay between government and industry. What is high cost, it is argued, is not only economically but also institutionally determined and through a comparative analysis of British and Danish policies with regard to high cost fields the author maintains that the role of institutional factors has been underplayed.

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