Oil, Policy, and Market Power

Adi Imsirovic ()
Additional contact information
Adi Imsirovic: The Oxford Institute for Energy Studies (OIES)

Chapter Chapter 2 in Trading and Price Discovery for Crude Oils, 2021, pp 13-24 from Springer

Abstract: Abstract The concept of ‘market powermarket power’ is introduced. Price makers and price takersprice takers. Structure of the industry, volatility, and prices. Oil projectsoil projects, concentration and market powermarket power. Economic and legal thinking about the integrated oil companies changed over time. SchumpeterSchumpeter and the ‘imaginary’ world of perfect competitionperfect competition. Benefits from market integration. Any welfare loss should be determined using economic theory. New thinking and antitrust. RockefellerRockefeller, John D., ‘Seven SistersSeven Sisters’ and OPECOrganisation of the Petroleum Exporting Countries (OPEC) mentioned in the context of economic ideas related to market powermarket power in the oil industry.

Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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:spr:sprchp:978-3-030-71718-6_2

Ordering information: This item can be ordered from
http://www.springer.com/9783030717186

DOI: 10.1007/978-3-030-71718-6_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().