OPEC and the Price of Petroleum

Theoretical Considerations and Empirical Evidence

Autor*innen

• Michael Rauscher

Parameter

• 224 Seiten
• 8 Lesestunden

• Ökologie & Umwelt
• Wirtschaft

Mehr zum Buch

Drastic fluctuations in oil prices have significantly influenced global economic performance since the 1970s, marked by crises in 1973-74 and 1979-80, followed by a sharp decline in 1986. The price of Arabian Light crude oil soared from under $2 per barrel in 1972 to around $35 in 1980, before plummeting to $13 by 1986. Monthly data reveals even more extreme variations, with prices exceeding $40 in December 1980 and dropping to $8 in August 1986. Post-World War II, petroleum emerged as the dominant energy resource, overshadowing alternatives like coal and firewood.

• Sprache: Englisch
• Erscheinungsdatum: 2012
• Einband: Paperback