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Setting the price of oil, one of the most sought-after and traded commodities in the global market, has been a major issue in the field of economics. In this book, Abdulaziz M. Aldukheil offers his mathematical base for setting the price of Middle Eastern crude oil and its application in oil exporting nations. Focusing on Saudi Arabia, An Optimum Base for Pricing Middle Eastern Crude Oil examines the deficiencies of present price-setting methods where production (extraction), trade, return on foreign investment and the subsequent investment of surplus revenues present complex questions for the Saudi Arabian economy. The author suggests that if the nation has to produce more oil than it can invest in at home, it has to be offered foreign investment with a return equal to the annual real rate of growth crude oil price.
The books in this set, originally published between 1927 and 1996 discuss the oil industry and its impact on the world economy in the twentieth century. The issues of trade, tax and energy policies as well as national security are all relevant to the economics politics of oil and the volumes analyse and discuss: The extent to which American dominance in world affairs is based on the control of oil resources and the changes which will inevitably take place with the end of the oil era. Discernible trends in such crucial areas as global petroleum supply and pricing, and the international economic and political implications of both. The role of wealth maximisation, and wealth satisficing The impact of North Sea oil and gas on the British economy. Relations between oil exporters and importers, and between the USA, Europe and the Arab world The most important strategic issues facing both the producers and consumers of oil and gas.
Addressing the major issues arising from the power ascribed to the Organization of the Petroleum Exporting Countries (OPEC), this book reflects the bredth, expertise and multifaceted viewpoints of the contributors: members of OPEC itself, industry representatives, and scholars and energy specialists from the USA, Europe and the Middle East. Throughout the book, the authors look at the potential of OPEC, discernible trends in such crucial areas as global petroleum supply and pricing, and the international economic and political implications of both.