IDEAS home Printed from https://ideas.repec.org/p/ags/cudawp/127155.html
   My bibliography  Save this paper

The Fourth Gulf War: Persian Gulf Oil and Global Security

Author

Listed:
  • Chapman, Duane
  • Khanna, Neha

Abstract

This paper reviews the evolution of the global oil market from the mid 20th century onwards. We analyze the unique “target price” framework brokered by the U.S. and Saudi Arabia in the mid 1980s. Over the 19 years of its life, this framework had been responsible for providing the world with a steady supply of oil at reasonable prices. However, stability in the global oil market was gained at the cost of a lingering political instability in the southern Persian Gulf, an instability that was made apparent with the Iraqi invasions of Iran and Kuwait, and the U.S. war and democratization effort in Iraq. The enormous magnitude of oil wealth in the Persian Gulf region has created a significant problem in terms of international policy and security. We conclude the paper by analyzing three possible roads to the future – laissez faire, an American system, and a multinational security framework.

Suggested Citation

  • Chapman, Duane & Khanna, Neha, 2004. "The Fourth Gulf War: Persian Gulf Oil and Global Security," Working Papers 127155, Cornell University, Department of Applied Economics and Management.
    • Handle: RePEc:ags:cudawp:127155
    DOI: 10.22004/ag.econ.127155
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/127155/files/Cornell_Dyson_wp0416.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.127155?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
    ---><---

    More about this item

    Keywords

    Resource /Energy Economics and 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:ags:cudawp:127155. 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.

    We have no bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/dacorus.html .

    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.