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Oil to 2000

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  • Antoine Ayoub

Abstract

Current surplus oil production capacity had its origins in the price increases of the 1970s. Those increases encouraged both energy conservation and the entry of new producers. Recent increases in oil demand reflect the belief among energy users that in real terms in the long term, prices will be stable. There is good reason to believe that this will be so, even at the current rate of increase it will be 15 years before demand matches current capacity. Given that situation it is difficult to see OPEC following any other pricing policy than the one currently in place. In the meantime market prices will further encourage vertical integration.

Suggested Citation

  • Antoine Ayoub, 1990. "Oil to 2000," Natural Resources Forum, Blackwell Publishing, vol. 14(2), pages 163-167, May.
    • Handle: RePEc:wly:natres:v:14:y:1990:i:2:p:163-167
    DOI: 10.1111/j.1477-8947.1990.tb00383.x
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    Cited by:

    1. Ayoub, Antoine, 1994. "Le pétrole : économie et politique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 70(4), pages 499-520, décembre.

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