Economic Theory and Some Oil Market Realities

Ferdinand E. Banks

Energy & Environment, 2006, vol. 17, issue 5, 781-787

Abstract: The world oil problem will not disappear, even if from time to time the oil price appears to have stabilized. Several key issues of crucial importance for the global oil supply are examined. It is pointed out that several prominent forecasts for later in this century are based on false premises, in particular the part that will be played by OPEC countries. These countries will not come up to expectations because geology may not provide. Even if it did, economics would lead them to choose another strategy.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:sae:engenv:v:17:y:2006:i:5:p:781-787

DOI: 10.1260/0958-305X.17.5.781

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