IDEAS home Printed from https://ideas.repec.org/a/sae/enejou/v16y1995i3p125-139.html
   My bibliography  Save this article

Understanding the Oil Industry: Economics as a Help or a Hindrance

Author

Listed:
  • Paul Stevens

Abstract

This paper examines how economics has contributed to an understanding of the international oil industry. After considering why knowledge of the oil industry is a subject worthy of interest, the paper develops a stylized version of economic methodology. It then tries to apply this to the oil industry. However, the paper observes that in the past, because of secrecy and lack of data, there have been serious problems which inhibit the use of standard methodology. The result has been a tendency among some economists to apply untried theory to the industry with damaging results. The paper then considers how other economists have adopted a different approach and in doing so, have made significant contributions. The paper concludes by considering future avenues for the further application of economic analysis to the oil industry.

Suggested Citation

  • Paul Stevens, 1995. "Understanding the Oil Industry: Economics as a Help or a Hindrance," The Energy Journal, , vol. 16(3), pages 125-139, July.
    • Handle: RePEc:sae:enejou:v:16:y:1995:i:3:p:125-139
    DOI: 10.5547/ISSN0195-6574-EJ-Vol16-No3-6
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.5547/ISSN0195-6574-EJ-Vol16-No3-6
    Download Restriction: no
    File URL: https://libkey.io/10.5547/ISSN0195-6574-EJ-Vol16-No3-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Benjamin Ward, 1972. "What’s Wrong with Economics II," Palgrave Macmillan Books, in: What’s Wrong with Economics?, chapter 16, pages 237-246, Palgrave Macmillan.
    2. Benjamin Ward, 1972. "What’s Wrong with Economics?," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-01806-2, March.
    3. Benjamin Ward, 1972. "What’s Wrong with Economics I," Palgrave Macmillan Books, in: What’s Wrong with Economics?, chapter 6, pages 89-92, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kakarot-Handtke, Egmont, 2010. "Axiomatic Basics of e-Economics," MPRA Paper 24331, University Library of Munich, Germany.
    2. M. Akram Khan, 1984. "Islamic Economics: Nature and Need الاقتصاد الإسلامي: الطبيعة والحاجة," Journal of Research in Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 1(2), pages 51-55, July.
    3. Muhammad Anas Zarqa, 2003. "Islamization of Economics: The Concept and Methodology تحقيق إسلامية علم الاقتصاد: المفهوم والمنهج," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 16(1), pages 3-42, January.
    4. Charles Wilber, 2004. "Ethics, human behavior and the methodology of social economics," Forum for Social Economics, Springer;The Association for Social Economics, vol. 33(2), pages 19-50, March.
    5. repec:abd:kauiea:oldjournal:v:1:y:1984:i:2:no:4:p:51-55 is not listed on IDEAS
    6. Wicks, Rick, 2011. "Assumption without representation: the unacknowledged abstraction from communities and social goods," MPRA Paper 51674, University Library of Munich, Germany.
    7. L.A. Duhs, 2008. "SEN'S ECONOMIC PHILOSOPHY Capabilities and Human Development in the Revival of Economics as a Moral Science," Discussion Papers Series 366, School of Economics, University of Queensland, Australia.
    8. T.A. Boylan & P.F. O'Gorman, 2007. "Axiomatization And Formalism In Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 426-446, July.

    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:sae:enejou:v:16:y:1995:i:3:p:125-139. See general information about how to correct material in RePEc.

    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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.