THE PERSIAN GULF, GLOBAL OIL RESOURCES, AND INTERNATIONAL SECURITY

Duane Chapman and Neha Khanna

Contemporary Economic Policy, 2006, vol. 24, issue 4, 507-519

Abstract: This article analyzes the interaction of politics and military security in global oil markets since the 1980s. The authors outline the historical evolution of the pricing structure that maintained a stable world oil market. They argue that the security framework underlying this pricing structure relied on a trade‐off between price stability and military security that has contributed to growing political instability in individual Persian Gulf countries and the rise of Al Qaeda and similar groups. The article concludes with a discussion of the pros and cons of three possible policy approaches to this dilemma—a “hands‐off” approach that is similar to the policy that prevailed between 1973 and 1990, a unilateral security system organized and led by the United States, and an international security framework. (JEL D47, F02, L11, Q32, Q41, Q43, Q48)

Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://doi.org/10.1093/cep/byj035

Related works:
Working Paper: The Persian Gulf, Global Oil Resources,and International Security (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:coecpo:v:24:y:2006:i:4:p:507-519

Ordering information: This journal article can be ordered from
https://ordering.onl ... 5-7287&ref=1465-7287

Access Statistics for this article

Contemporary Economic Policy is currently edited by Brad R. Humphreys

More articles in Contemporary Economic Policy from Western Economic Association International Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().