Oil Politics: A Modern History of Petroleum
The politics of oil revolves around its price and the reliability of its suppliers. In turn, many international conflicts in the world today are rooted in these politics. Not surprisingly: the price of oil is managed by a cartel-OPEC-some of whose member governments are deeply hostile to the United States and other major importers of oil. And OPEC
controls nearly two-thirds of the world’s oil reserves.
Ironically, the United States and many others, especially non-OPEC producers of energy, have come to rely on OPEC to set prices that encourage the development of high-cost oil elsewhere, and thus promote some diversity of supply.
- Author: Francisco Parra
- Oil Politics: A Modern History of Petroleum
- Published January 17th 2004 by I. B. Tauris (first published January 1st 2003)