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Explaining—and solving—the oil curse in the developing world Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed? In this groundbreaking analysis, Michael L. Ross looks at how developing nations are shaped by their mineral wealth—and how they can turn oil from a curse into a blessing. Ross traces the oil curse to the upheaval of the 1970s, when oil prices soared and governments across the developing world seized control of their countries' oil industries. Before nationalization, the oil-rich countries looked much like the rest of the world; today, they are 50 percent more likely to be ruled by autocrats—and twice as likely to descend into civil war—than countries without oil. The Oil Curse shows why oil wealth typically creates less economic growth than it should; why it produces jobs for men but not women; and why it creates more problems in poor states than in rich ones. It also warns that the global thirst for petroleum is causing companies to drill in increasingly poor nations, which could further spread the oil curse. This landmark book explains why good geology often leads to bad governance, and how this can be changed.
“A stunning piece of work—perhaps the best single book ever produced about our energy economy and its environmental implications” (Bill McHibbon, The New York Review of Books). Petroleum is so deeply entrenched in our economy, politics, and daily lives that even modest efforts to phase it out are fought tooth and nail. Companies and governments depend on oil revenues. Developing nations see oil as their only means to industrial success. And the Western middle class refuses to modify its energy-dependent lifestyle. But even by conservative estimates, we will have burned through most of the world’s accessible oil within mere decades. What will we use in its place to maintain a global economy and political system that are entirely reliant on cheap, readily available energy? In The End of Oil, journalist Paul Roberts talks to both oil optimists and pessimists around the world. He delves deep into the economics and politics, considers the promises and pitfalls of oil alternatives, and shows that—even though the world energy system has begun its epochal transition—we need to take a more proactive stance to avoid catastrophic disruption and dislocation.
The dominant powers in world energy geopolitics have radically changed in last couple of decades due to the increased demand for natural energy resources (i.e., coal and oil). Because of these power shifts, the economics of energy has become much more entangled in international relations. Economic Dynamics of Global Energy Geopolitics provides emerging research exploring the theoretical and practical aspects of the geo-economics of energy resources and how this affects countries’ economies. It also explores the implementation of energy supply and demand in world markets. Featuring coverage on a broad range of topics such as socio-economics, supply/demand fluctuations, and foreign direct investment, this book is ideally designed for engineers, economists, academicians, researchers, policymakers, and graduate-level students seeking current research on the role of economics and policy in energy geopolitics.
Through innovative and expansive research, Oil Revolution analyzes the tensions faced and networks created by anti-colonial oil elites during the age of decolonization following World War II. This new community of elites stretched across Iran, Iraq, Saudi Arabia, Venezuela, Algeria, and Libya. First through their western educations and then in the United Nations, the Arab League, and the Organization of Petroleum Exporting Countries, these elites transformed the global oil industry. Their transnational work began in the early 1950s and culminated in the 1973–4 energy crisis and in the 1974 declaration of a New International Economic Order in the United Nations. Christopher R. W. Dietrich examines how these elites brokered and balanced their ambitions via access to oil, the most important natural resource of the modern era.
This book explains the place of oil in the economic and political predicaments that now confront the West. Thompson explains the problems that the rising cost of oil posed in the years leading up to the 2008 crash, and the difficulties that a volatile oil market now poses to economic recovery under the conditions of high debt, low growth and quantitative easing. The author argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations.
This volume considers one of the alternative economic models that countries can consider implementing. It systematizes the experience of the social and solidarity economy in both developing and developed countries in America, Europe and Australia. However, the focus is given to the prerequisites and main forms of the social and solidarity economy development that exists in Ukraine. The collection will be of interest to academic scholars, as well as political and public decision-makers.
Current and authoritative with many advanced concepts for petroleum geologists, geochemists, geophysicists, or engineers engaged in the search for or production of crude oil and natural gas, or interested in their habitats and the factors that control them, this book is an excellent reference. It is recommended without reservation. AAPG Bulletin.
The emergence of the international oil corporation as a political actor in the twentieth century, seen in BP's infrastructure and information arrangements in Iran. In the early twentieth century, international oil corporations emerged as a new kind of political actor. The development of the world oil industry, argues Katayoun Shafiee, was one of the era's largest political projects of techno-economic development. In this book, Shafiee maps the machinery of oil operations in the Anglo-Iranian oil industry between 1901 and 1954, tracking the organizational work involved in moving oil through a variety of technical, legal, scientific, and administrative networks. She shows that, in a series of disagreements, the British-controlled Anglo-Iranian Oil Company (AIOC, which later became BP) relied on various forms of information management to transform political disputes into techno-economic calculation, guaranteeing the company complete control over profits, labor, and production regimes. She argues that the building of alliances and connections that constituted Anglo-Iranian oil's infrastructure reconfigured local politics of oil regions and examines how these arrangements in turn shaped the emergence of both nation-state and transnational oil corporation. Drawing on her extensive archival and field research in Iran, Shafiee investigates the surprising ways in which nature, technology, and politics came together in battles over mineral rights; standardizing petroleum expertise; formulas for calculating profits, production rates, and labor; the “Persianization” of employees; nationalism and oil nationalization; and the long-distance machinery of an international corporation. Her account shows that the politics of oil cannot be understood in isolation from its technical dimensions. The open access edition of this book was made possible by generous funding from Knowledge Unlatched.
Aimed at students and professionals, this book covers every major aspect of petroleum: the origin of fossil hydrocarbons and their chemical/physical properties; discovering hydrocarbon reserves; recovering oil, gas, and bitumen; purifying gas; the chemical and physical characterization of crude oil; refining crudes into fuels and lubricants; and converting simple chemicals into solvents, polymers, fibers, rubbers, coatings, and myriad other products, including pharmaceuticals. Readers will learn how the industry operates, from "upstream" exploration and production, "midstream" transportation to "downstream" refining, and manufacturing of finished products. The book also contains unique chapters on midstream operations, learnings from major accidents, and safety/environmental laws and regulations. It builds on the authors' previous books and teaching material from a highly rated course that is taught at the Florida A&M University/Florida State University (USA).
This volume is a collection of sixteen essays on three general topics: the methodology of economics, the applicability of economic reasoning to political science and other social sciences, and the relevance of economics as moral philosophy. Several essays are published here for the first time, including "Professor Alchian on Economic Method," "Natural and Artifactual Man," and "Public Choice and Ideology." This book provides relatively easy access to a wide range of work by a moral and legal philosopher, a welfare economist who has consistently defended the primacy of the contractarian ethic, a public finance theorist, and a founder of the burgeoning subdiscipline of public choice. Buchanan's work has spawned a methodological revolution in the way economists and other scholars think about government and government activity. As a measure of recognition for his significant contribution, Dr. Buchanan was awarded the 1986 Nobel Prize in Economics.