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Ropa a jej postavenie v globalizácii svetového hospodárstva

Oil and its position in the process of globalization of the world economy

Peter Baláž and Andrej Londarev

Politická ekonomie, 2006, vol. 2006, issue 4, 508-528

Abstract: This study is devoted to analysis of different aspects of world oil market development and its role in further growth of individual national economies, especially in connection with the ever intensifying globalization process. The study shows individual aspects and parts of the oil market, be it production and consumption of crude oil, its territorial dislocation, including EU, and also an analysis of the impact that has the development of oil consumption on economical results of individual national economies. In the first place it analyses the connections with the growth of competition ability of companies. Further research is devoted to the establishment of crude oil price and to the most important aspects on which depends the price creation process. Supply and demand factors are also analyzed. The study comes to a conclusion that the biggest obstacle in using the crude oil will not be its availability, at least in the short run, but the ever fast increasing price. This high price will enable the use of oil only to such companies and countries that will be able to implement the oil in the production process with very high efficiency. Such conditions satisfy only products and services that are based on unique technical and scientific know-how, with high added value, or in such areas of national economies where the use of oil is unenviable.

Keywords: economic reform; competitivness; industrial policy; energy consumption; high tec; oil market; oil pricing; oil production; theory of the oil business (search for similar items in EconPapers)
JEL-codes: B30 D24 D49 E22 E23 F23 L11 (search for similar items in EconPapers)
Date: 2006
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