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Global oil: some key issues and challenges

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  • Zuhayr Mikdashi

Abstract

Energy ‐ and in particular petroleum ‐ is an eminently transnational commodity, with abundant supplies in excess of domestic needs available in a few countries, while large actual or potential requirements are present in other countries. This paper examines the forces which have influenced the behaviour and strategies of protagonists ‐ given their interests and objectives. It endeavours to distinguish the fundamental factors from those of a transient or reversible nature. Though recognizing that keen competition and acute rivalry have existed and will continue to exist in the oil‐cum‐energy market, the paper concludes that a measure of dialogue and understanding ‐ possibly verging on some cooperation in certain areas ‐ could well avoid crises and promote global welfare in the interest of consumers, producers and business intermediaries.

Suggested Citation

  • Zuhayr Mikdashi, 1989. "Global oil: some key issues and challenges," Natural Resources Forum, Blackwell Publishing, vol. 13(3), pages 233-237, August.
    • Handle: RePEc:wly:natres:v:13:y:1989:i:3:p:233-237
    DOI: 10.1111/j.1477-8947.1989.tb00339.x
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