An Unstable World Oil Market

M. A. Adelman

The Energy Journal, 1985, vol. Volume 6, issue Number 1, 17-22

Abstract: There is a permanent surplus because huge low-cost reserves are available for development. The cartel keeps them undeveloped to maintain the price. Their power is great, but they are a "clumsy cartel" and sometimes overreact to produce a shortage. Hence the future is cloudy and threatening, like the recent past.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 1985
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