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Mideast Governments and the Oil Price Prospect

Abstract:
The Mideast oil-producing nations are the heirs of the multi-national oil companies whom they gradually expropriated, starting around 1950. They have inherited the companies' problem: repressing investment and production.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Petroleum – Policy and Regulation

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Oil prices, OPEC, Cartel, Oil demand

DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No2-3


Published in Volume 10, Number 2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.