The political economy of transnational oil

This paper identifies some of the major policies adopted by the public authorities of both the oil importing and oil exporting countries, as well as the business strategies followed by the major energy corporate groups. The significance of governmental policies and business strategies are often reflected in transnational political or economic relations, market structures and price formation. The focus of this paper is to ascertain the impact of those policies and strategies.     

Global oil: some key issues and challenges

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.