IDEAS home Printed from https://ideas.repec.org/a/aen/journl/1993v14-03-a05.html
   My bibliography  Save this article

Oil Industry Development and Trade Liberalization in the Western Hemisphere

Author

Listed:
  • Stephen J. Randall

Abstract

This paper provides an overview of oil industry developments in the Western Hemisphere with particular emphasis on Latin America since the inauguration of the Enterprise for the Americas Initiative by George Bush. I discuss these developments in the context of the Canada-U.S. Free Trade Agreement (concluded in 1989), and the negotiation in 1992 of the North American Free Trade Agreement (NAFTA). This paper is concerned essentially with the oil industry and does not discuss the importance of natural gas for Canadian producers nor the fact that much of Latin American oil production (notably in Mexico) is associated with natural gas. I examine the shift to trade and investment liberalization and privatization in the 1980s and early 1990s, especially in Latin America-where the most dramatic transformation has occurred. I suggest that investment patterns in the industry have been only marginally related to trade liberalization, and have derived more from considerations of resource availability, exploration and development costs, market factors, and the general state of the international economy-all of which have contributed in the 1980s to significant restructuring and downsizing among a number of major corporations. I also note the important increase in an internal Latin American market, and the role of regional organizations such as ARPEL-the Association of Latin American State Oil Company Producers.

Suggested Citation

  • Stephen J. Randall, 1993. "Oil Industry Development and Trade Liberalization in the Western Hemisphere," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 101-118.
  • Handle: RePEc:aen:journl:1993v14-03-a05
    as

    Download full text from publisher

    File URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1123
    Download Restriction: Access to full text is restricted to IAEE members and subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jayadevappa, Ravishankar & Chhatre, Sumedha, 2000. "International trade and environmental quality: a survey," Ecological Economics, Elsevier, vol. 32(2), pages 175-194, February.

    More about this item

    JEL classification:

    • F0 - International Economics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aen:journl:1993v14-03-a05. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (David Williams). General contact details of provider: http://edirc.repec.org/data/iaeeeea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.