Petroleum prospects and the need for international cooperation

C. Constantinou

Natural Resources Forum, 1991, vol. 15, issue 4, 287-291

Abstract: A review of the world energy situation prior to the Persian Gulf War of 1990‐91 shows that periods of oil price instability have distorted the decision‐making process. During periods of high prices, investments were made in uneconomic energy sources and in periods of low prices few investments were made at all. To create a rational investment climate, international cooperation between consumers and producers of petroleum is essential. Such cooperation in the form of a forum could help to stabilize prices and assure that the economic decisions needed to meet future demand would be made in a secure framework.

Date: 1991
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https://doi.org/10.1111/j.1477-8947.1991.tb00148.x

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Persistent link: https://EconPapers.repec.org/RePEc:wly:natres:v:15:y:1991:i:4:p:287-291

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