AN ECONOMIC ANALYSIS OF ASPECTS OF PETROLEUM AND MILITARY SECURITY IN THE PERSIAN GULF

Duane Chapman and Neha Khanna

No 7229, Working Papers from Cornell University, Department of Applied Economics and Management

Abstract: Geologic estimates of remaining global petroleum resources place about 50% in the Persian Gulf. Production costs are estimated at $5 per barrel there, and $15 per barrel in the North Sea and Alaska. Using mathematical methods derived from depletion theory is utilized to explain the $15-$20 per barrel price band that existed from 1986 to 1999. New economic forces have displaced this previously stable pattern; a new price range of $22-to $28 may be emerging. International trade in petroleum and conventional weapons are analyzed with econometric methods; the occurrence of nuclear weapons capability in the Persian Gulf region is explored.

Keywords: International Relations/Trade; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 29
Date: 2000
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Journal Article: AN ECONOMIC ANALYSIS OF ASPECTS OF PETROLEUM AND MILITARY SECURITY IN THE PERSIAN GULF (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:cudawp:7229

DOI: 10.22004/ag.econ.7229

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