IDEAS home Printed from https://ideas.repec.org/a/bla/coecpo/v24y2006i4p507-519.html
   My bibliography  Save this article

The Persian Gulf, Global Oil Resources, And International Security

Author

Listed:
  • DUANE CHAPMAN
  • NEHA KHANNA

Abstract

This article analyzes the interaction of politics and military security in global oil markets since the 1980s. The authors outline the historical evolution of the pricing structure that maintained a stable world oil market. They argue that the security framework underlying this pricing structure relied on a trade-off between price stability and military security that has contributed to growing political instability in individual Persian Gulf countries and the rise of Al Qaeda and similar groups. The article concludes with a discussion of the pros and cons of three possible policy approaches to this dilemma-a "hands-off" approach that is similar to the policy that prevailed between 1973 and 1990, a unilateral security system organized and led by the United States, and an international security framework. (JEL "D47", "F02", "L11", "Q32", "Q41", "Q43", "Q48") Copyright 2006 Western Economic Association International.

Suggested Citation

  • Duane Chapman & Neha Khanna, 2006. "The Persian Gulf, Global Oil Resources, And International Security," Contemporary Economic Policy, Western Economic Association International, vol. 24(4), pages 507-519, October.
  • Handle: RePEc:bla:coecpo:v:24:y:2006:i:4:p:507-519
    as

    Download full text from publisher

    File URL: http://www.blackwell-synergy.com/doi/abs/10.1093/cep-byj035
    File Function: link to full text
    Download Restriction: Access to full text is restricted to 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. Neha Khanna & Duane Chapman, 2010. "Guns And Oil: An Analysis Of Conventional Weapons Trade In The Post-Cold War Era," Economic Inquiry, Western Economic Association International, vol. 48(2), pages 434-459, April.
    2. Bharati, Rakesh & Crain, Susan J. & Kaminski, Vincent, 2012. "Clustering in crude oil prices and the target pricing zone hypothesis," Energy Economics, Elsevier, vol. 34(4), pages 1115-1123.

    More about this item

    JEL classification:

    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

    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:bla:coecpo:v:24:y:2006:i:4:p:507-519. 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: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: http://edirc.repec.org/data/weaaaea.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.